May 25, 2012
/PRNewswire-Asia/ -- China Ming Yang Wind Power Group Limited ("
" or the "Company") (NYSE: MY), a leading wind turbine manufacturer in
, 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
), 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
. 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
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
Following the earnings release announcement,
's senior management will host a conference call on
Friday, June 1, 2012
8:00 am (Eastern Time)
5:00 am (Pacific Time)
(Beijing Time) to discuss its results and recent business activities.
To access the conference call, please dial: