Patience young grasshopper. Again, execs always have to error on caution. It will take some days before financing companies confirm subsidies for projects are approved and then approval given to USO & SIT to proceed. Mgmt will have to wait for commitments before forecasts can be solidified and announced.
Even with only 10 days left in the Qrt, a couple days will be needed to better estimate this Qrt's Revenues, given the whirlwind of project activity that is certainly going on in the ECD/USO/SIT offices today and this week. If a target is ever moving, today it certainly is; and the target is only going UP!
Eners open letter, and the downgrades, were primarly based on the expected reduction of the Italy program.
Now that Italy has decided to keep its program the same, and with eners price beaten down so low, we should actually see Upgrades in the near future.
All those projects on hold in Italy should start back up this week or early next week on this news. Plus France has started their FiT program back up after suspending it temporary for most of this quarter.
What brough ENER down should bring it back up.
Still have FRANCE to take care of though.
New 35 cent per kw Italian feed in tariff for NEW projects over the next FIVE years "IS" enough for ENER to make a nice profit on Italian projects. Especially when they get their new $1.15 and .95 per Watt panels out in the next year and two!
I also read that Germany had 22% FEWER GW's of actual solar installs then they had originally calculated for 2010.
That should open the doors for similar non-restrictions in Germany for 2011.
ECD may make a quarter out of the 3rd Qrt yet. If not, expect a lot of "pending" projects to get the green light in Q4 and Revenues be HUGE!!!!