SMA Solar 2012 Profit Drops 58%

SMA Solar (OTC:

) reported a drop in its profit last year. SMA Solar's 2012 operating profit fell 58% to 102 million euros ($131 million). However, analysts were expecting an operating profit of 122 million euros. Its sales came in at 1.46 billion euros, versus analysts' estimates of 1.47 billion euros. SMA Solar also proposed 2012 dividend of 0.60 euro per share, down from 1.30 euro per share for 2011. SMA Solar shares closed at $25.90 yesterday.