Yingli Green Energy Tops Q2 Estimates (YGE)

Wed. August 19, 2009; Posted: 08:26 AM

Aug 19, 2009 (SmarTrend(R) News Watch via COMTEX) -- YGE | Quote | Chart | News | PowerRating -- 8/19/2009-Yingli Green Energy (NYSE:YGE) reported Q2 EPS of 14 cents, ex-items, topping consensus estimates of 4 cents. Revenues in the quarter fell 24.6% year-over-year to $219.5 million, but managed to come in ahead of consensus estimates of $213.5 million. Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy said: "In order to take full advantage of new opportunities, we have been focusing on building a more prominent presence in emerging solar markets around the world. In the U.S., we have established offices in New York and San Francisco, which we expect will serve to enhance both our U.S. business and the quality of support we are able to provide to our fast-growing customer base in North America. We are also optimistic about the emerging opportunities in the China market following recent government initiatives such as the Golden Sun subsidy program, which we believe will stimulate demand in our domestic market, and we believe Yingli Green Energy is well positioned to continue to take advantage of the rapidly growing demand for solar energy in China. Of note, we recently formed a partnership with SDIC Huajing Power Holding Co., Ltd. a company engaged in investment, generation, operation and sale of electric power, to supply PV modules for a 10 MW on-grid solar plant in Dunhuang, Gansu Province, which demonstrates our ability to expand our footprint even in a challenging market."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Yingli Green Energy Hlds Co (YGE) click here. Yingli Green Energy Hlds Co (YGE) has Short Term PowerRatings of 5. Details on Yingli Green Energy Hlds Co (YGE) Short Term PowerRatings is available at This Link.

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