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

ReneSola Updates Second Quarter And Full Year 2013 Outlook

JIASHAN, China, July 16, 2013 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") (NYSE: SOL), a leading brand and technology provider of solar photovoltaic ("PV") products, announced updates to its second quarter and full year 2013 outlook.

(Logo: http://photos.prnewswire.com/prnh/20080506/CNTU030 )

Based on preliminary data, ReneSola provides the following updates to its second quarter 2013 outlook:

  • The Company estimates its total solar wafer and module shipments to be in the range of 760 megawatts ("MW") to 770 MW, compared to its previously guided range of 700 MW to 720 MW.
  • The Company estimates its solar module shipments to be in the range of 450 MW to 460 MW, compared to its previously guided range of 400 MW to 420 MW.
  • The Company estimates its revenues to be in the range of $365 million to $375 million, compared to its previously guided range of $310 million to $330 million.
  • The Company estimates its gross margin to be in the range of 5% to 6%, compared to its previously guided range of 3% to 5%.

Based on preliminary data, ReneSola provides the following updates to its full year 2013 outlook:

  • The Company estimates its total solar wafer and module shipments to be in the range of 2.8 gigawatts ("GW") to 3.0 GW, compared to its previously guided range of 2.7 GW to 2.9 GW.
  • The Company estimates its solar module shipments to be in the range of 1.6 GW to 1.8 GW, compared to its previously guided range of 1.4 GW to 1.6 GW.

Mr. Xianshou Li, ReneSola's chief executive officer, said, "Amid a challenging macro environment, we have transformed our company into a global solar brand and technology leader. Furthermore, we have substantially expanded our solar module business in several key international markets through effective sales and marketing of our leading-edge, proprietary technology while leveraging our efficient manufacturing processes. With the support of our growing downstream businesses, we expect to deliver improved results in the second half of 2013."

1 of 3

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
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,752.53 -175.67 -0.98%
S&P 500 2,073.89 -15.57 -0.75%
NASDAQ 4,899.3110 -40.0160 -0.81%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs