China Ming Yang Wind Power Group Ltd. (MY) announced that it expects a loss for the fourth quarter and a decline of about 53% in revenue.
For the full year, the company expects profit to decline by about 59% as compared to 2010 and revenue for full year 2011 is expected to maintain at a similar level as 2010.
The company expects fourth quarter gross margin to be approximately 7% and about 18% for full year 2011, due to lower average selling price, reflecting increasingly competitive market pricing.
The company will announce its unaudited financial results for the fourth quarter and full year 2011 on March 29, 2012.
by RTT Staff Writer
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