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Solarfun Power Holdings(Nasdaq: SOLF) $5.97. Today announced its unaudited financial results for the first quarter ended March 31, 2009. Net revenue was RMB 684.2 million (US$100.1 million), a decrease of 43% from the first quarter of 2008, and a decline of 39% from the fourth quarter of 2008.
Gross profit was RMB 49.4 million (US$ 7.2 million), down 74.0 % from RMB 190 million (US$ 27.8 million) in the first quarter of 2008, but up substantially from the RMB 377.8 million (US$ 55.3 million) loss in the fourth quarter of 2008. The net loss attributable to shareholders was RMB 7.0 million (US$ 1.0 million). The loss per basic ADS was RMB 0.13 (US$0.02). This was a decline from net income of RMB 107.9 million (US$ 15.8 million) and earnings per basic ADS of RMB 2.17 in the first quarter of 2008, but a substantial improvement from the prior quarter net loss of RMB 418.8 million (US$ 61.3 million) and loss per basic ADS of RMB7.79.
What They Do: Solarfun Power Holdings Co, Ltd. manufactures both PV cells and PV modules, provides PV cell processing services to convert silicon wafers into PV cells, and supplies solar system integration services in China.
CECO Environmental Corp. (Nasdaq: CECE) $3.47. Today announced that it has secured seven new contracts totaling approximately $4.8 million. Rick Blum, President and Chief Operating Officer, stated, "These contracts were secured by companies in our Contracting and Equipment Groups. They involve equipment for the automotive, specialty metals, steel, power, chemical, and natural gas industries. The largest order is for ventilation equipment for a specialty metal facility."
What They Do: CECO Environmental Corp. is North America's largest independent air pollution control company. Through its subsidiaries -- Busch, CECOaire, CECO Filters, CECO Abatement Systems, kbd/Technic, Kirk & Blum, H. M. White, Inc., Effox, GMD, Fisher-Klosterman, Flextor and AVC Specialists -- CECO provides a wide spectrum of air quality services and products including: industrial air filters, environmental maintenance, monitoring and management services, and air quality improvements systems.
MDRNA (Nasdaq: MRNA) $1.55. Today announced positive in vivo efficacy data showing that its proprietary UsiRNA constructs are highly potent and highly specific against ApoB and Factor VII message. The data are being presented today by Michael V. Templin, Ph.D., Vice President, Discovery Research and Pharmaceutical Development of MDRNA, at the TIDES Oligonucleotide and Peptide® Technology and Product Development Conference in Las Vegas, Nevada.
What They Do: MDRNA is a biotechnology company focused on the development and commercialization of therapeutic products based on RNA interference (RNAi).
Maxwell Technologies (Nasdaq: MXWL) $9.33. Today announced that it has priced the sale of two million shares of its common stock in a public offering underwritten by Roth Capital Partners, resulting in gross proceeds to the company of approximately $17.6 million. All of the stock is being offered by the company, and the transaction is expected to close on May 22, 2009, subject to customary closing conditions. The company plans to use the proceeds for working capital and general corporate purposes. In addition, the company has granted Roth Capital Partners an over allotment option to purchase up to 300,000 additional shares.
What They Do: Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions.
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