China Sunergy Co. (CSUN) Posts Wider Q2 Loss of $2.26/ADS; Guides Q3 Shipments Lower

August 30, 2012 6:24 AM EDT
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China Sunergy Co. (NASDAQ: CSUN) reported Q2 EPS of ($2.26), $0.85 worse than the analyst estimate of ($1.41). Revenue for the quarter came in at $110.4 million versus the consensus estimate of $108.8 million.

Shipments totaled 150.3MW (144.5MW of which were module shipments) in the second quarter of 2012, increasing by 88.1% over the first quarter of 2012 and 68.3% over the second quarter of 2011. This was consistent with the Company's shipment guidance of between 145 and 155MW.

The Company estimates that third quarter shipments will be in the range of 80MW to 85MW. The Company expects its gross margin to be at the breakeven level and forecasts a net loss in the third quarter of 2012. Such guidance is based on the average Euro-US dollar exchange rate in June. For the full year 2012, the Company revises its estimated yearly total shipments to approximately 400MW to 420MW.

For earnings history and earnings-related data on China Sunergy Co. (CSUN) click here.

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