Jefferies Reiterates Buy Rating On SATC

Jefferies is reiterating its Buy rating on shares of Satcon Technology (NASDAQ: SATC).

“Satcon reported in-line 4Q10 revenue but missed our and consensus GAAP EPS,” Jefferies writes. “Revenue was $72.6M, in line with our estimate of $73.0M, consensus of $74M, and guidance of $70-75M. GAAP EPS was $(0.03), below our estimate of $0.02 and consensus of $0.03.

“Gross margin was 28%, compared with our estimate of 30%, guidance of 28-32%, and 26.9% in 3Q10. Excluding $2.1M hit on change of FV of warrants (non-cash) and one-time dividend of $3.3M ($1.25M was cash), the EPS would have been $0.02.”

Satcon Technology closed Tuesday at $4.83.