献给我的true love, 阿玛# Piebridge - 鹊桥
d*y
1 楼
基本上top the line.重点是gross margin可以保持，并提高。ldk的盈利能力还没有发
挥出来。就像武功高手，只使出了5成功力。哈哈。我只能说，这个价位买了不怕被套
但是，最怕但是了。solar中，ER不管好坏，都是ER后大跌。这次日本的nuke事故，是
不是翻盘的契机？
转一个hobo的看法：(hobo我一直在跟踪他的分析，比较靠谱，偏保守）
They turned on the machines daily. Nothing blew up. That's all I've been
asking for. Margins continue to inch up. Still a bit more of their installed
capacity yet to be realized.
Since their report explains next to nothing, it's hard to tell what happened
with two line items that differed from what I expected:
1) g&a was higher than expected. Either they expanded more aggressively, had
a huge end of year party, or some write down was included(typical for end
of year quarters)
2) tax rate was 21%, much higher than the 15% it should be. Again since it's
the end of year quarter, some things might have happened to close out the
year and get the auditors stamp.
Just on a normal tax rate, their eps would have came in at 1.17. Not that it
makes too much of a difference with most analysts still way behind but I
hate going over on estimates :)
That's still over :)
In my book, going over means you lose. Anyways I look at other things, name
the margins. As long as they didn't miss that, then they are operating as I
expect. That's all I hope for because if they can keep operating as I expect
, things will be quite good a bit down the road. Some of the other items can
be more controlled, like opex. Other things like tax, well not much you can
do there. The thing about ldk which kind of differs from most other peers
even tsl, is that their earnings haven't peaked yet. For those who have read
some of my recent articles, you might noticed a theme about metrics peeking
in q4 for some companies meaning that sequentially things will look flat.
ldk should still see continued sequential improvement for a bit, regardless
of what they guide ;)
挥出来。就像武功高手，只使出了5成功力。哈哈。我只能说，这个价位买了不怕被套
但是，最怕但是了。solar中，ER不管好坏，都是ER后大跌。这次日本的nuke事故，是
不是翻盘的契机？
转一个hobo的看法：(hobo我一直在跟踪他的分析，比较靠谱，偏保守）
They turned on the machines daily. Nothing blew up. That's all I've been
asking for. Margins continue to inch up. Still a bit more of their installed
capacity yet to be realized.
Since their report explains next to nothing, it's hard to tell what happened
with two line items that differed from what I expected:
1) g&a was higher than expected. Either they expanded more aggressively, had
a huge end of year party, or some write down was included(typical for end
of year quarters)
2) tax rate was 21%, much higher than the 15% it should be. Again since it's
the end of year quarter, some things might have happened to close out the
year and get the auditors stamp.
Just on a normal tax rate, their eps would have came in at 1.17. Not that it
makes too much of a difference with most analysts still way behind but I
hate going over on estimates :)
That's still over :)
In my book, going over means you lose. Anyways I look at other things, name
the margins. As long as they didn't miss that, then they are operating as I
expect. That's all I hope for because if they can keep operating as I expect
, things will be quite good a bit down the road. Some of the other items can
be more controlled, like opex. Other things like tax, well not much you can
do there. The thing about ldk which kind of differs from most other peers
even tsl, is that their earnings haven't peaked yet. For those who have read
some of my recent articles, you might noticed a theme about metrics peeking
in q4 for some companies meaning that sequentially things will look flat.
ldk should still see continued sequential improvement for a bit, regardless
of what they guide ;)
