Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of China Ming Yang Wind Power Group Ltd (NYSE: MY) dropped 13% today after the company released earnings.
So what: Third-quarter revenue rose 22%, to $157.0 million, and the company lost $11.7 million, or $0.07 per share. Deliveries amounted to 290 MW, and orders taken in the quarter were 296 MW, meaning that growth will be harder to come by in the future.
Now what: At the end of the day, it doesn't look like growth is going to pick up significantly, and China Ming Yang Wind Power Group still isn't making a profit. It's also discouraging to see gross margin fall from 17.4% a year ago, to 13.2% last quarter. I'm definitely not buying this stock here, and don't know if the company will be able to swing to a profit any time soon.
