Suntech Power Holdings Co. Ltd. (ADR) (NYSE: STP), a solar energy company based in China, last week announced its first-quarter financial results, posting total net revenue of $877 million for the first quarter, representing an increase of 49.1% on a year-over-year basis. The company’s total PV shipments increased 62.9% on a year-over-year basis in the first quarter.
Suntech reported consolidated gross profit margin of 19% for the first quarter, compared with 19.5% reported for the same period in the previous year. The company reported first-quarter net income of $31.9 million, or $0.17 per diluted share.
Last week Suntech announced that it entered into a strategic partnership to supply up to 190 MW of solar panels to Solarhybrid in 2011. Earlier this month the company also announced that it boosted its manufacturing in Arizona by including a third production shift.
Shares of STP spiked more than 5% in today’s trade, moving to $8.47.
Yingli Green Energy Holdings Co. Ltd. (ADR) (NYSE: YGE), a China-based vertically integrated photovoltaic product manufacturer; earlier this month released its first-quarter financial results. The company reported first-quarter total net revenue of $527.30 million. The company’s first-quarter PV module shipment fell by a low teen percentage over the previous quarter.
Yingli reported first-quarter gross profit of $144.1 million and gross margin of 27.3%. The company’s first-quarter operating income was $86.8 million. It reported a net income of $56.2 million for the first quarter.
Shares of YGE jumped toward 6% gains in this morning’s trade to $9.06.
JA Solar Holdings Co. Ltd. (ADR) (NASDAQ: JASO), a China-based manufacturer of solar cells, earlier this month announced its first-quarter financial results. The company reported first-quarter shipments of 451MW, representing an increase of 65.8% on a year-over-year basis.
JA Solar reported first-quarter revenue of $556 million, representing an increase of 91.2% over the same period in the previous year. The company’s gross margin for the quarter was 17.3%, compared with 19.2% reported in the previous quarter.
JA Solar reported first-quarter operating income of $83.3 million and an operating margin of 15%. The company’s first-quarter net income was $71.80 million.
Shares of JASO gained more than 6% in today’s morning trade at $6.03.
