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Vestas Posts Wider Full-Year Loss, Lowers 2013 Shipment Forecast

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Vestas Posts Wider Q1 Loss

Vestas Wind Systems A/S (OTC: VWDRY) posted a wider-than-expected full-year loss and lowered its 2013 shipment forecast.

Vestas lowered its 2013 shipment forecast to 4-5 Gigawatts of capacity, versus its earlier view of 5GW.

Vestas posted a full-year net loss of EUR963 million, versus a year-ago loss of EUR166 million. However, analysts were expecting a net loss of EUR192.4 million.

Its operating loss widened to EUR697 million in the full year, versus a year-ago loss of EUR60 million. Its revenue rose to EUR7.22 billion from EUR5.84 billion, versus analysts' estimates of EUR6.91 billion.

Vestas shares closed at $2.00 yesterday.

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