Dallas, Texas 11/11/2013 (Financialstrend) – The $2.97 billion market capped solar panels manufacturer SunEdison, Inc. (NYSE:SUNE) stock is a strong contender for the company which has seen its market cap achieving the highest valuations over the past 12 months. It has zoomed up by a mind boggling 465% from its November 12 valuations. Its operations have also kept pace with this huge increase in its market profile. It has close to 5600 employees and boasts of sales of $2.06 billion in the past 12 months. This super charged appreciation received additional fuel last week, when the “producer and seller of photovoltaic energy solutions” declares results from its 3Q operations.
In the third quarter for which operations closed on September 30, the “silicon wafers” technology specialist firm announced net revenue of 4672 million. This was well above the $555 million consensus estimate drawn up by analysts tracking this super charged stock. Net income was positive for the quarter at $4.1 million and was significantly better than the net loss of $316 million the firm has totalled up over the trailing 12 months period. The firm was also able to better its cash position significantly by releasing a additional 34.5 million shares of its stock into the market and sweeping in $239.6 million during 3Q operations.
Looking ahead the firm in order to provide faster rate of returns to its share holders is planning to spin off identified solar power generation plants which the firm has set up over the past three years. The monetization plan involves grouping these identified resources into a single corporate entity and spin it off as a publicly traded firm. In the last three months of the fiscal year, the firm plans to notch up revenue in the range of $220 to $230 million and expects the full year revenue to balloon up to a impressive $920 million.