China Sunergy Co. Ltd. announced unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2013. For the fourth quarter of 2013, total revenue was increased 119.8% from the third quarter of 2013, primarily due to higher shipments from both modules and cells. For the quarter, total sales were $125,496,000 against $54,388,000 for the same period of last year. Loss from operations was $7,326,000 against $42,362,000 for the same period of last year. Loss before income tax was $12,754,000 against $46,093,000 for the same period of last year. Net loss attributable to ordinary shareholders was $13,163,000 against $70,524,000 for the same period of last year. Net loss attributable to ordinary shareholders per diluted ADS was $0.89 against $5.27 for the same period of last year. Non-GAAP net loss attributable to ordinary shareholders was $11,640,000 against $43,161,000 for the same period of last year. Non-GAAP net loss attributable to ordinary shareholders per diluted ADS was $0.78 against $3.23 for the same period of last year. CapEx was $9.6 million this quarter, an increase of $6.2 million from the previous quarter.

For the year, total sales were $316,186,000 against $292,721,000 for the same period of last year. Loss from operations was $39,934,000 against $105,733,000 for the same period of last year. Loss before income tax was $50,482,000 against $117,299,000 for the same period of last year. Net loss attributable to ordinary shareholders was $50,609,000 against $133,581,000 for the same period of last year. Net loss attributable to ordinary shareholders per diluted ADS was $3.68 against $9.99 for the same period of last year. Non-GAAP net loss attributable to ordinary shareholders was $48,446,000 against $87,020,000 for the same period of last year. Non-GAAP net loss attributable to ordinary shareholders per diluted ADS was $3.53 against $6.51 for the same period of last year.

The company estimates that the total shipments for the first quarter of 2014 will range from 130 megawatts to 140 megawatts, including 35 megawatts to 40 megawatts of cell. The company expects the gross margin for the first quarter of 2014 to remain in the middle single digit.

For the full year 2014, the company estimates that total shipments will range between 750 megawatts to 800 megawatts, including 150 megawatts to 200 megawatts for cell.