http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar/yingli-revenues-up-on-record-shipments.html

NYSE-listed solar manufacturer Yingli Green Energy hit a gross margin of 32.9 per cent in the fourth quarter of 2010 as its quarterly photovoltaic (PV) module shipments hit a record high.

The manufacturer’s revenues reached $616.1m in the fourth quarter, 23 per cent above the third quarter, as its solar module shipments rose 21.6 per cent.
The fourth quarter results reflected strong full-year 2010 results, in which the company’s net income hit $215m, generating earnings per share of $1.37.
Its PV shipments for the full year were 102 per cent higher during the year than in 2009 at close to 1.06GW, exceeding its previous guidance of up to 1.04GW.
Europe accounted for 80 per cent of Yingli’s global PV product sales in 2010, a proportion that the company is looking to change. Yingli expects that diversified market exposure will increase its sales from other regions to 40 per cent this year. In 2010, the US accounted for ten per cent of its sales, which it expects to increase to up to 15 per cent this year.
Yingli’s gross profits for the full year 2010 reached $629.2m, representing a gross margin of 33.2 per cent that topped its 32.5 per cent upper guidance.
Its gross profits reached $202.7m in the fourth quarter, on an operating income of $142.9m, while its fourth quarter net income stood at $84m on earnings per share of $0.52.
Yingli re-purchased $171.3m of its convertible senior notes due to mature in 2012, for $199.4m prior to the release of its financial results, leaving just $1.2m notes of 2012 maturity outstanding.
Yingli CEO Liansheng Miao said, ‘Our success was driven by the continuously robust market demand, our competitive cost structure, diversified customer base and the well-established Yingli Solar brand.
‘We are also continuing to make progress on the research and development front. On the PANDA commercial production lines, we have reached another historical high cell efficiency rate of 19.89 per cent.’