China Sunergy Co. (CSUN) Posts Q1 Loss of 99c/ADS; Guides Q2 Shipments

China Sunergy Co. (Nasdaq: CSUN) reported Q1 loss of $0.99 per ADS, $0.15 worse than the analyst estimate of ($0.84). Revenue for the quarter came in at $62.7 million versus the consensus estimate of $86 million.

Shipments totaled 140.2MW, an increase of 36.8% (37.7MW) from 102.5MW in the first quarter of 2013, and a decrease of 40.5% (95.6MW) from 235.8MW in the fourth quarter of 2013. Module shipments, including module processed under OEM arrangements of 16.5MW, were 100.5MW. Cell shipments, including cell processed under OEM arrangements of 33.3MW, were 39.7MW.

The Company estimates that the total shipment for the second quarter of 2014 will range from 150MW to 160MW, including 40MW to 50MW of cell and module shipments under OEM arrangements. Gross margin for the second quarter of 2014 is expected to remain stable from that of the first quarter of 2014.

This guidance is based on the current market conditions and reflects the Company's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

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

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