Today's China Sunergy (ADR) (NASDAQ:CSUN) Lifts Guidance , Shares Up

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China Sunergy Co., Ltd. (ADR) (NASDAQ:CSUN) soared 6.86% to $4.52 after it booked GAAP net income of $7.8 million and earnings of $0.20 per ADS in the third quarter of 2009, compared to GAAP net income of $0.2 million in the year-ago period and GAAP net income of $1.7 million in the previous quarter, Sunergy said November 18.

Revenues in the three-month period rose 14.3% sequentially to $80.1 million, with solar cells processed under OEM arrangements accounting for 85.5% of total revenues. Sunergy shipped approximately 54.4MW in the third quarter, up 59.5% year-on-year and 31.1% quarter-on-quarter.

Sunergy expects shipments to grow to 70-80MW in the fourth quarter with gross margin in the low teens. On the basis of improving demand, Canadian Solar raised its forecast for full year 2009 shipments to between 190-200MW from the previously given 150-200MW.