Solarfun Reports Inline With Estimates, Stock Down (SOLF) $SOLF
Solarfun Power (SOLF) reported Q4 results about inline with expectations. The company reported an EPS of $0.25 which was one cent better thananalyst estimates. Revenue for the quarter was $183.5 million, whichcompares to the estimate of $184.55 million. The results were verysimilar to what most of the China solar companies are reporting.. bigimprovements over the year ago quarter and significant sequentialimprovement. There is one difference with SOLF in that they didn’treport a sequential increase on the EPS side this quarter. Theyreported .37/share last quarter vs the .25/share this quarter.
Not a bad quarter, but not a great quarter like Suntech justreported. Traders aren’t all that impressed either sending the stockdown a few percent in premarket trading.
Looking ahead, the company expects shipments to be 130 – 140MW thisquarter (20 – 30% increase over last quarter) and average sellingprices for PV modules to decline by about 10%. For the full year 2010,the company expects shipments of 600MW which would be nearly double theshipments over last year. Again, this is about inline with what theother China solar companies are seeing.
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