DOW JONES NEWSWIRES
Renewable Energy Corporation Wednesday said that preliminary
financial results for 4Q 2010 are significantly above
expectations.
MAIN FACTS:
-4Q revenues seen at NOK4.9B.
-4Q Ebitda seen at NOK1.8B.
-4Q Ebit seen at NOK1.1B.
-The Ebitda result includes NOK0.3B in non-recurring items,
mainly related to a cancellation fee received for a wafer sales
contract.
-In addition, the results were positively affected especially by
a stronger than expected market, enabling sales of accumulated
off-spec products at attractive prices.
-Also notes higher than expected FBR production and product
quality in REC Silicon, due to fewer than normal maintenance
close-downs and more stable operations. These extra volumes were
sold in the spot market at attractive prices.
-REC reports 4Q results on Wednesday February 9th.
-At 0849 GMT shares were 11% higher at NOK21.50.
-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090;
djnews.stockholm@dowjones.com