Ich habe mich mal näher mit der Firma beschäftigt und möchte euch meine Ergebnisse nicht vorenthalten 
Xantrex Technology Inc.
Heimatbörse Kanada (TSX:XTX, WKN 938731)
Ipo am März 2004 zu 18 CAD
Aktueller Börsenkurs 8,40 CAD, MK 203,7 Mio. USD
Wachstum : Umsatz 1998 10 Mio. USD – Umsatz 2004 143 Mio. USD
Gesunde Bilanz (Zahlen III/05, in Mio. USD): Cash 61,4
Forderungen 32,8
Anlagevermögen 29,7
Immaterieller
Firmenwert 47,7
Verbindlichkeiten LuL 27,9
Langzeitverbindlichkeiten 1,9
Die Bilanz ist gesund, einzig sticht der hohe Firmenwert ins Auge. Wie der zustande kommt, ist mir noch nicht ganz klar.
Zudem schreibt man seit 2003 schwarze Zahlen. Die letzten Quartale waren leicht negativ. Dies wird mit höheren Kosten in der Produktentwicklung begründet.
Seit August 2005 läuft ein 1-jähriges Aktienrückkaufprogramm im Volumen von 10 Mio. USD bzw. 10% des Freefloats. Im III. Quartal wurden erst 133.400 Aktien im Wert von 813.000 USD zurückgekauft.
Die Firma wurde bereits mehrfach ausgezeichnet: http://www.xantrex.com/awards.asp
Hier der aktuelle Business Outlook
Current Business Outlook
We are intensely focused on returning to profitability and growth, but until we have sufficiently addressed the above described internal execution issues, we will decline to comment on our near-term financial outlook. We expect to provide an update on the business and market conditions for 2006 when we report the fourth quarter.
To achieve market share gains in the North American and European solar markets, subsequent to the quarter end we introduced additional versions of our residential grid tie solar inverters. This wider product range offered by us now gives our growing number of system integrators and installers the ability to better meet the capacity requirements of a broad spectrum of system sizes of solar installations. As a result we expect to increase our market share of solar grid tie inverter sales in both North America and Europe. In October, we concluded an agreement with Solon AG, a European solar module manufacturer and system integrator, for $10 million of our grid tie products over the next two years, which represents a major broadening and diversification into the fast growing European solar market. In September we signed an agreement with Clipper Windpower Technology Inc. for wind converters worth approximately $10 million to be delivered over two years. This order represents our first major wind product order since 2003. These product introductions and orders have positioned us well to grow our revenues in the Distributed Power markets in the near term.
In the third quarter, severe weather affected sales of recreational vehicles and boats, oil refining capacity and, in turn, fuel prices. As a result, sales of our Mobile Power products for recreational vehicle and marine applications were down compared to same quarter of the prior year. While the nature and pace of recovery in those markets remains unclear due to continued severe weather conditions in key geographic markets, other categories within Mobile Power products, including portable products, represent potential sources of growth.
Programmable Power sales, flat for the quarter and up 8% for the year to date, are influenced by the volume of spending on technology capital equipment, market share changes, and new product introductions. While the latter two influences continued to work in our favour during the quarter, a slowing in capital equipment spending in North America in the private and government sectors offset growth in International markets.
Quelle: http://www.xantrex.com/documen…n/XTX_MDA_FS_Q3_FINAL.pdf
Ich werde heute mal eine Startposition ins Depot legen. Besonders gefällt mir der Produktmix ( http://www.xantrex.com/products.asp ), da man in allen Bereichen der erneuerbaren Energien Geld verdient. Die Kundenliste ist auch nicht ohne:
Applied Materials, GE Wind, RWE Schott, BP Solar, Cisco, Fleetwood, Kyocera, Monaco Coach, Schlumberger, Sun Microsystems, Canadian Tire, Sears, Costco, QVC, Radio Shack, Test Equity, Volvo Trucks and West Marine.
Grüße
