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Solarfun Power (SOLF) Falls Following Q2 Results
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Shares of Solarfun Power Holdings Co. Ltd. (Nasdaq: SOLF) are down nearly 7% in pre-open trading today after earnings results didn't provide enough upside to satisfy investors.
Solarfun reported Q2 diluted EPS of $0.23, versus the consensus of $0.22. Q2 revenues were $197.1 million, versus the consensus of $182.9 million.
On the bright side, Solarfun raised guidance for 2008 shipments from 160-180 MW to 175-190 MW and 2009 shipments will rise 50% from the 2008 level. On a negative note, the company said ASP's in 2009 will decline 5-10% from the expected full-year 2008.
Shares of Solarfun are down 42% YTD, but still up 73% over the last year.
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