PV Crystalox Solar Ahead 2007 Market Expectations

Britain’s PV Crystalox Solar made public on Monday that it expects to report 2007 profits over and above the market’s forecast.  The company makes silicon component components for the solar electricity generation industry.
The company expects earnings before interest and tax (EBIT) to beat market estimates and to be not less than 70 million euros ($103 million) for the year to Dec. 31, 2007.  This summary of the company’s earnings is before non-recurring costs including listing on the stock market and employee benefit trust costs are taken into account.
Analysts had been predicting about $10 million USD less, around 46 million pounds or $90.6 million.  PV Crystalox Solar, which makes wafers from high grade silicon to sell to manufacturers of solar cells and panels, said its performance had been particularly strong in the final months of 2007.
The firm had previously made public in a December trading update that it was anticipating 2007 pretax profits to rise.  This was ahead of forecasts made at the time of its half-year results.  This forecast sent its share up 10 percent, and leading analysts changed their predictions to increase their estimates of its earnings.

www.pvcrystalox.com