During the fourth quarter of 2010, total revenue stood at $260 million, increasing 15% over third-quarter 2010 and 404% over fourth-quarter 2009. Net income for the period stood at $32.2 million, up 19.7% over the third quarter of 2010. The company incurred a loss in the fourth quarter of 2009.
Gross margin for the fourth quarter was 22.3%, compared with 16.7% in the previous quarter and 12.3% in the year-ago quarter. During the period, wind turbine generators commissioned by the company reached a historical high of 253 units of 379.5 megawatts, rising 6% over the third quarter of 2010 and 462% over the fourth quarter of 2009.For 2011, the company targets sale contracts at 1,400 units of 1.5 megawatt WTGs and 100 units of 3 megawatt super compact drive WTGs. The stock is trading at 6.5 times its estimated 2011 earnings with an estimated upside of 77% in the next year.
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