http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar/us-solar-company-str%e2%80%99s-net-2010-sales-grow-40.html

US-based solar encapsulant provider STR saw its consolidated net sales rise by more than 40 per cent in 2010, hitting $371.8m, primarily on the back of increased sales in the Asia market.

But cautious forecasts for the 2011 may be the reason behind its flat NYSE-listed common stock share price on Friday, which remained unchanged at $16.32 at the last close.
STR said it expects its net sales to take a hit in the first quarter of 2011 due to a timing issue relating to its Malaysia capacity expansion. It has pitched its first quarter 2011 net sales forecast at between $89m and $94m, down from the $97.6m it achieved in the fourth quarter of 2010, expecting its diluted earnings per share to be up to $0.33.
A proliferation of sales in the Asia market led to 114 per cent year-on-year growth of STR’s net income in 2010. Its net income for the year hit $49.3m, equating to $1.17 per diluted share, while its operating income rose 78 per cent to $85.7m.
Its solar gross margin as a percentage of net sales improved 41 per cent in 2010, as manufacturing efficiencies offset inflated prices for raw materials. It also improved its income as a percentage of net sales to 23 per cent, while its net income more than doubled.
STR CEO Dennis Jilot said, ‘Our continued growth in the fourth quarter was primarily driven by sales to customers in Asia. Growing 176 per cent from the fourth quarter of 2009, this region now accounts for 43 per cent of our solar revenue compared to 22 per cent a year ago.’
‘We have increased existing share in 2011 with our current tier one Chinese customers as well as with another large Asian module manufacturer.’