China Sunergy Co. (CSUN) Tops Q1 Views; Guides Q2, FY12 Shipments

China Sunergy Co. (NASDAQ: CSUN) reported Q1 EPS of ($0.71), $0.63 better than the analyst estimate of ($1.34). Revenue for the quarter came in at $68.5 million versus the consensus estimate of $65 million.

Shipments totaled 79.9MW (75.2MW of which were module shipments) in the first quarter of 2012, representing a 31.6% decrease over the fourth quarter of 2011.

The Company estimates, to the best of its knowledge at this time, that second quarter shipments will be in the range of 145MW to 155MW. The Company expects its gross margin to be at the mid-single-digit level of around 5% and forecasts a net loss in the second quarter of 2012.

For the full year 2012, the Company reiterates the estimate that its total shipments are expected to be approximately 500MW to 550MW.

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

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