This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MY Announces Preliminary Results For First Quarter Of 2012

ZHONGSHAN, China, May 25, 2012 /PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited (" Ming Yang" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in China, today announced its preliminary unaudited financial results for the first quarter ended March 31, 2012.

Preliminary First Quarter of 2012 Selected Unaudited Financial Results

The Company's financial statements for the first quarter of 2012 have not been finalized and are subject to completion of its normal period-end closing procedures. Therefore, the preliminary selected unaudited financial data set forth below may be subject to adjustment and the actual results could differ materially from the preliminary results provided below.

Revenue for the first quarter of 2012 is expected to be between RMB400.0 million ( US$63.5 million) and RMB410.0 million ( US$65.1 million), a decline of approximately 70% year-over-year due to delays in the installation and commission of its wind turbine generators on a number of wind farm projects, caused in part by adverse weather conditions, and a slowdown of overall market demand in China. Gross margin in the first quarter of 2012 is expected to be approximately 10%.

As a result, the Company expects to incur a total comprehensive loss for the first quarter of 2012 between RMB110.0 million ( US$17.5 million) and RMB120.0 million ( US$19.1 million).

The Company is continuing to review its first quarter results and plans to announce its unaudited financial results for the first quarter of 2012 on June 1, 2012. The earnings press release will be available on the Investor Relations page of the Company's website at http://ir.mywind.com.cn.

Following the earnings release announcement, Ming Yang's senior management will host a conference call on Friday, June 1, 2012 at 8:00 am (Eastern Time)/ 5:00 am (Pacific Time)/ 8:00 pm (Beijing Time) to discuss its results and recent business activities.

To access the conference call, please dial:

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,915.07 -70.54 -0.42%
S&P 500 1,964.68 -8.15 -0.41%
NASDAQ 4,396.2040 -22.83 -0.52%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs