Total wind turbine generators (WTGs) decreased 32.1% to an equivalent wind power project output of 175.5 megawatts (MW) from 258.5 MW in the fourth quarter of 2012. Total revenue declined 39.9% year over year $89.4 million. Basic and diluted loss per share was 56 cents, compared to 19 cents in the same period one year earlier.
Gross loss was $3.3 million, compared to a gross profit of $12.3 million in the fourth quarter of 2012. Gross margin was -3.7%, compared to 8.5% in the same period one year earlier. Total comprehensive loss was $82.9 million, compared to $26.6 million in the same period one year earlier.
The stock was up 14.4% to $2.94 at 1:51 p.m. on Tuesday.
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TheStreet Ratings team rates CHINA MING YANG WIND PWR-ADR as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHINA MING YANG WIND PWR-ADR (MY) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, unimpressive growth in net income, disappointing return on equity and poor profit margins."