第二季度銷售業(yè)績7000萬美金,出貨量為41.5兆瓦,超出了預(yù)期:
中國南京 2009年8月27日電-地處中國南京的專業(yè)太陽能電池制造商,中電光伏(NASDAQ代碼:CSUN),今日公布了其2009年第二季度的財務(wù)數(shù)據(jù)。
China Sunergy Announces Financial Results for the Second Quarter Of 2009
Second Quarter Revenues of US$70.1 million; 41.5MW in Shipments Exceeds Guidance;
NANJING, China, Aug. 27 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), ("China Sunergy" or the "Company") a specialized solar cell manufacturer based in Nanjing, China, announced today its financial results for the second quarter of 2009.
Second Quarter Financial Results
-- Revenues were US$70.1 million, an 89.5% increase compared to
the first quarter of 2009. Revenues generated from solar cell
sales were US$54.5 million, representing a 58.4% increase
compared to the first quarter of 2009.
-- Gross profit was US$6.8 million for the second quarter, compared
to gross loss of US$8.8 million during the first quarter of 2009.
Accordingly, gross margin was 9.7%, compared to negative 23.7%
during the first quarter of 2009.
-- GAAP net income was US$1.7 million. Adjusted non-GAAP net income
was US$1.2 million, which excludes share-based compensation and
the change in the fair value of foreign currency derivatives. This
compares to non-GAAP net loss of US$13.2 million in the first
quarter of 2009.
-- GAAP net income per ADS was US$0.04 on both basic and diluted basis.
Adjusted non-GAAP net income per ADS was US$0.03 on both basic and
diluted basis, which excludes share-based compensation and the change
in the fair value of foreign currency derivatives, compared to a
non-GAAP net loss of US$0.33 per ADS in the first quarter of 2009.
-- Inventory as of June 30, 2009 was $25.0 million, down from $29.6
million as of March 31, 2009. Inventory write-down was $2.9 million,
compared to $8.0 million in the first quarter of 2009.
-- Operating cash flow in the second quarter was positive US$19.5 million,
compared with positive $7.9 million in the first quarter of 2009.
-- During the second quarter of 2009, China Sunergy continued to conduct
open market repurchases of its 4.75% Convertible Senior Notes due 2013,
repurchasing US$4 million aggregate principal amount of the convertible
notes for a total cash consideration of US$1.8 million. As a result,
China Sunergy realized a net gain of US$2.2 million. As of the end of
the second quarter of 2009, the convertible bond balance was reduced to
US$44 million.
Please refer to "Reconciliation Tables of GAAP to adjusted Non-GAAP Figures" at the end of this press release.
Operational Highlights
-- Shipments in the second quarter amounted to approximately 41.5MW,
representing a 73.6% increase sequentially and an 18.6% increase on a
year-over-year basis, due to more aggressive pricin