JA Solar
Holdings (NASDAQ: JASO) reported Wednesday posted a wider second-quarter loss
on sharply lower revenue, stock-related expenses and buying back bonds.
JA Solar
said it lost 195 million yuan ($28.5 million or 18 cents per share) for the
quarter ended June 30 compared with a loss of 1 cent per share in the year-ago
quarter.
Revenue
fell 51 percent to 600.7 million yuan ($88 million) for the quarter compared
with 1.2 billion yuan ($181 million) in the year-ago quarter.
The solar energy company
recorded higher stock-based compensation charges in the second quarter,
including expenses related to the surrender of stock options to the company by
employees. It also recorded charges to buy back bonds at a discount and to
establish a reserve for prepayments to suppliers.
The
year-ago quarter included a gain of 175.6 million yuan on a change in the value
of derivatives.
Analysts
surveyed by Thomson Reuters expected JA Solar to post a loss of 6 cents a share
on revenue of $78 million. The estimates typically exclude one-time charges.
JA Solar
shares fell 72 cents, or 13.6 percent, to $4.53 in afternoon trading. The
shares have traded between $1.55 and $18.48 over the past year.
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