China Sunergy Co. Ltd. Announces Unaudited Consolidated Earnings and Production Results for the Second Quarter Ended June 30, 2012; Provides Earnings Guidance for the Third Quarter of Fiscal Year 2012; Revised Production Guidance for the Full Year 2012
For the second quarter, the company shipments totaled 150.3 megawatts (144.5 megawatts of which were module shipments), increasing by 88.1% over the first quarter of 2012 and 68.3% over the second quarter of 2011. This was consistent with the company's shipment guidance of between 145 megawatts and 155 megawatts.
The company provided earnings guidance for the third quarter of fiscal year 2012 and revised production guidance for the full year 2012. For the quarter, the company expects that third quarter shipments will be in the range of 80 megawatts to 85 megawatts. The company expects its gross margin to be at the breakeven level and forecasts a net loss in the third quarter of 2012. Such guidance is based on the average Euro-US dollar exchange rate in June.
For the full year 2012, the company revises its estimated yearly total shipments to approximately 400 megawatts to 420 megawatts.