Monthly Archives: May 2012
MEMC Acknowledges S&P Action
St. Peters, Missouri, United States MEMC Electronic Materials, Inc. (NYSE: WFR) acknowledged S&P’s downgrade of MEMC’s senior debt to a B+ rating today. “We are disappointed with the rating change by S&P,” commented Brian Wuebbels, MEMC’s Chief Financial Officer, “but we are comfortable that our cash and liquidity position is sufficient to meet our current [...]
U.S. Deputy Energy Secretary Poneman Announces New Steps to Support Clean Energy Small Businesses
Washington, District of Columbia, United States As part of National Small Business Week and to highlight President Obama’s focus on small businesses as leaders in an economy built to last, U.S. Deputy Secretary of Energy Daniel Poneman today announced in Fayetteville, Arkansas, $11 million in innovative research and technology grants of up to $150,000 to [...]
Washington, District of Columbia, United States February 23, 2012
President Obama Announces Funding for Breakthroughs in Natural Gas and Biofuels as Alternative Fuels for Vehicles Washington, District of Columbia, United States February 23, 2012 Today, President Obama announced new funding to catalyze breakthrough technologies for two key alternative fuels – natural gas and biofuels – as part of his all-of-the-above energy strategy to reduce [...]
Tempe, Arizona, United States February 28, 2012 The non-GAAP financial measures included in the tables below are non-GAAP net income and non-GAAP net income per share, which adjust for the following items: Warranty and Cost in Excess of Normal Warranty Expense, Goodwill Impairment and Restructuring. We believe the presentation of these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provides meaningful supplemental information regarding the Company’s operating performance. Our management uses these non-GAAP financial measures in assessing the Company’s performance to prior periods and investors benefit from an understanding of these non-GAAP financial measures. The use of non-GAAP financial measures has limitations and you should not consider these performance measures in isolation from or as an alternative to measures presented in accordance with GAAP such as net (loss) income and net (loss) income per share. Warranty and Cost in Excess of Normal Warranty Expense: Included in our GAAP presentation of cost of sales and operating expenses, warranty and cost in excess of normal warranty expense primarily reflect estimated costs related to our remediation of a manufacturing excursion that occurred between June 2008 and June 2009. We exclude this expense from our non-GAAP measures because we do not believe they reflect expected future costs. Goodwill Impairment: Included in our GAAP presentation of operating expenses, goodwill impairment primarily represents a write-down of most of the goodwill we booked from our acquisitions of OptiSolar in 2009 and NextLight in 2010. We exclude the impairment of goodwill from our non-GAAP measures because it does not reflect future performance, does not affect our cash position, and does not affect our cash flows from operating activities. Restructuring: Included in our GAAP presentation of operating expenses, restructuring costs represent asset impairment and related costs due to certain research and development activities we are no longer pursuing outside of our core technology, as well as severance for headcount reductions. We exclude restructuring from our non-GAAP measures because the impairment portion of the charges does not reflect our cash position or our cash flows from operating activities, and the restructuring charges overall do not reflect future operating expenses, are not indicative of our core operating performance, and are not meaningful in comparing to our past operating performance. Source: First Solar
First Solar, Inc. Announces Fourth Quarter and 2011 Financial Results Tempe, Arizona, United States February 28, 2012 Net sales of $660 million for the fourth quarter and $2.8 billion for 2011 GAAP EPS loss of $4.78 in the fourth quarter and $0.46 for 2011 Non-GAAP EPS of $1.26 per fully diluted share in the fourth [...]
Baoding, China February 29, 2012
Yingli Green Energy Reports Fourth Quarter and Full Year 2011 Results Baoding, China February 29, 2012 Q4 Non-GAAP Gross Margin of PV Modules Was 12.7% Full Year 2011 PV Module Shipment Reached 1,603.8 MW Full Year Non-GAAP Gross Margin of PV Modules Was 20.6% and Non-GAAP Diluted EPS Was US$0.76 Yingli Green Energy Holding Company [...]
Brussels, Belgium March 1, 2012
Third German Region, Baden-Württemberg, joins the Climate Group Brussels, Belgium March 1, 2012 Today, the Environment Minister of Baden-Württemberg, Franz Untersteller, and Mark Kenber, CEO, The Climate Group, officially confirmed the German state’s accession to The Climate Group at a press conference in Brussels. After North-Rhine Westphalia and Bavaria, the southern German region is the [...]
South Windsor, Connecticut, United States February 28, 2012
CT TRANSIT sets Another Green Example: Installs PureCell® System South Windsor, Connecticut, United States February 28, 2012 from UTC Power and expands commitment to reducing environmental impact UTC Power, a United Technologies Corp. (NYSE:UTX) company, today announced that CT TRANSIT, which currently operates five buses powered by UTC Power’s transportation fuel cells, will expand their [...]
Cambridge, Massachusetts, United States March 1, 2012
Bingaman Clean Energy Standard Restarts Dialogue on Need for More Clean Energy Cambridge, Massachusetts, United States March 1, 2012 Sen. Jeff Bingaman (D-N.M.), chairman of the Senate Energy and Natural Resources Committee, released a bill today that would create a clean energy standard, which the Union of Concerned Scientists (UCS) called “a welcome step.” Below [...]
Boulder, Colorado, United States February 28, 2012
Wind Powering America hosts Fifth Annual Wind for Schools Summit Boulder, Colorado, United States February 28, 2012 On January 12 and 13, 2012, Wind Powering America hosted its fifth annual Wind for Schools Summit at the National Wind Technology Center near Boulder, Colorado. During the 2-day event, attendees shared their experiences from the past year, [...]
Washington, District of Columbia, United States February 29, 2012
Eight DOE National Labs Offer Streamlined Partnerships Washington, District of Columbia, United States February 29, 2012 DOE announced on February 23 that eight of its national laboratories will participate in a pilot initiative to make it easier for private companies to use the laboratories’ research capabilities. The participating labs are Ames, Brookhaven, Idaho, Lawrence Livermore, [...]