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JA Solar (JASO) smashed analyst estimates this morning and has
posted the first quarterly profit in a year. The company reported an
EPS of .10/share, .07/share better than Wall St estimates.
Revenues also smashed estimates coming in at $193 million vs the Wall St estimate of $136 million. This is a big upside surprise out of JASO, but let’s put it in perspective a bit. The EPS number is still a 78% plunge from the year ago quarter and a 39% plunge in revenues from the year ago quarter.
This despite a new record for shipments (177MW). The company is doing a much better job of getting costs under control and demand is certainly picking up for its products, but if I’m a longer term investor, I’d want to see quarter over quarter growth return and record shipments continue for a few quarters.
Looking ahead to next quarter, the company sees shipments in the range of 170 – 200MW
The company has also announced the resignation of its CTO who will pursue other interests. The company has identified potential candidates and is expected to make an announcement soon.
Shares of JASO are up about 5% in premarket trading.
