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Message: 2009 First Quarter Financial Results

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tectol

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2009 First Quarter Financial Results

posted on May 19, 09 03:42PM

May 19, 2009
Hanwei Announces 2009 First Quarter Financial Results

...

Extracted from the Q1 results

Comment . :

Next quarter should show much better numbers , wind power requires construction work and now is the good time for infrastructure work .

Tectol

Sales revenues decreased by 56 percent to $2.6 million for the three months ended March 31, 2009, compared to the same period in 2008. The decrease was driven primarily by reduced revenue from the wind power equipment segment due to the delivery and installation schedule of the Company’s wind power customer. Revenues for the first quarter were in line with management expectations and the historical seasonality of Hanwei’s business lines. In 2008, the first quarter revenues were $5.9 million or 6.1 percent of 2008 annual revenues of $96.5 million, including $4.5 million in wind power revenues. For 2009, the first quarter revenues are expected to account for less than 2 percent of annual revenues due to the delivery schedule for wind power turbines and blades. ...

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