This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

JA Solar Announces Second Quarter 2012 Results

SHANGHAI, China, Aug. 29, 2012 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd., (Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of high-performance solar power products, today announced its unaudited financial results for its second quarter ended June 30, 2012.

Second Quarter 2012 Highlights

  • Shipments were 418 MW, in line with the low end of the Company's previous guidance of 420 MW, and an increase of 14.2% from 366 MW in the first quarter of 2012
  • Net revenue wa s RMB 1.8 billion ($284.4 million) , an increase of 12.8% from RMB 1.6 billion ($252.2 million) in the first quarter of 2012
  • Gross margin was 4. 8 %, compared with 2.1% in the first quarter of 2012
  • Operating loss was RMB 155.9 million ($24.5 million) , compared with operating loss of RMB 159.1 million ($25.0 million) in the first quarter of 2012
  • Net loss, including a foreign exchange loss of RMB 69.8 million ($11.0 million) and tax expenses of RMB 120.0 million ($18.9 million), was RMB 457.8 million ($72.1 million), compared with net loss of RMB 250.9 million ($39.5 million) in the first quarter of 2012
  • Loss per diluted ADS was RMB 2.34 ($0.37), compared with loss per diluted ADS of RMB 1.28 ($0.20) in the first quarter of 2012
  • Cash and cash e quivalents at the end of the quarter were RMB 3.7 billion ($589.1 million) , compared with RMB 4.3 billion ( $ 670.3 million ) at the end of the first quarter of 2012

Dr. Peng Fang, CEO of JA Solar, commented, "In the second quarter, JA Solar achieved shipments in line with the low end of our guidance and maintained a healthy financial position despite the challenging market environment. Gross margin increased to 4.8% from 2.1% in the first quarter, as a result of our cost reduction efforts and increased operating efficiency. This quarter, modules accounted for more than 60% of revenues and more than 55% of shipments for the first time in our history. Although not as severe as in previous quarters, the downward pressure on pricing continued. In light of this, we focused on sustaining a healthy balance sheet and building our footprint in key growth markets."

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs