BTU 2Q results impacted by major equipment order put on hold

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

Thermal processing equipment specialist, BTU International reported a major order for its in-line diffusion tools for a PV manufacturing customer, originally announced in January, 2011 had been put on hold. Deliveries of the first half of the order have started but will extend into 2012, according to the company. The equipment supplier noted a broad weakening of demand from PV manufacturers that it expected to continue through 2011. BTU reported second quarter net sales of US$19.0 million, down from US$25.4 million in the preceding quarter. Net income for was at breakeven, compared to a net income of US$1.8 million in the preceding quarter.

“Although our quarter was obviously affected by the customer delay in shipments of a large solar order, we are satisfied with our performance in the second quarter of 2011,” noted Paul J. van der Wansem, BTU chairman and CEO. “Net sales of US$19.0 million, modestly better than our guidance, led to break-even results. Sales reflected solid contributions from our electronics business, which delivered the majority of our major systems revenue for the second quarter.”

Net sales for the first six months of 2011 were US$44.4 million compared to US$35.2 million for the first six months of 2010.

However, factory utilization was said to be weaker due to the solar equipment order and shipment slowdown, which impacted margins in the quarter. Lower utilization rates, especially at its factory in China would persist this year.

Management noted keen interest from c-Si cell manufacturers in its dual lane inline diffusion furnaces as they offer 2x throughput at only a 1.5x price premium to single lane systems.

Management also noted customer engagements regarding migrating from batch furnace technology to inline diffusion systems as cost issues continue to dominate PV manufacturers purchasing requirements.

“The worldwide slowdown in the solar marketplace has impacted our outlook for the year and our near-term revenue will be weighted towards our electronics products rather than solar products, with revenue in the US$17 to US$18 million range and somewhat lower gross margins than the previous quarter. We are encouraged by the recent results of our latest generation solar products and maintain strong confidence in our role in the future of the solar marketplace,” concluded van der Wansem.

28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.
20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.

Read Next

September 24, 2021
Independent power producer Catalyze has acquired commercial and industrial (C&I) solar developer Sol Alliance, expanding its presence in the northeast of the US and taking on an 80MW project development pipeline in the process.
September 24, 2021
California Governor Gavin Newsom has signed a US$15 billion package to fund programmes to tackle drought and climate change in the state
PV Tech Premium
September 24, 2021
Concerns have been raised that new measures introduced by Spain’s government to limit windfall profits of renewable energy plants could dent investor confidence and impact the stability of the country’s solar sector.
September 24, 2021
DNV-owned solar monitoring firm GreenPowerMonitor is to integrate Alteso’s solar analytics tech platform into its offering after striking a deal to acquire it.
September 23, 2021
A project that bids to combine up to 20GW of solar PV with the world’s largest energy storage battery and a 4,200km-long subsea power cable has moved a step forward after Indonesian authorities greenlit its proposed transmission cable route.
September 23, 2021
US national residential and C&I solar plant performance assessment company Omnidian has completed a US$33 million Series B raise.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021