Solarfun, JA Solar Post Losses

Solar companies Solarfun(SOLF Quote) and JA Solar(JASO Quote) both based in China, reported losses for the first quarter on Tuesday.

Solarfun, whose CEO Harold Hosken announced his resignation, lost $1 million, or 2 cents per American depositary share, compared with a profit of $15.8 million a year ago. Revenue fell 43% to $100.1 million.

Analysts polled by Thomson Reuters were expecting a bigger loss from the maker of photovoltaic cells, of 17 cents a share on revenue of $100.1 million.

JA Solar, a maker of solar cells, lost $28.2 million, or 18 cents a share, compared with a profit of about $22.6 million, or 15 cents per share, a year ago. Analysts had estimated a loss of 6 cents per share. Revenue fell 79% to $33.9 million. Analysts had been expecting about $105.6 million.