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Hot Shares Today - (ADR) (NASDAQ:SOLF) Reports Profit, Shares Soar
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Solarfun Power Holdings Co., Ltd. (ADR) (NASDAQ:SOLF) climbed 7.55% to $6.27 after it reported Q3 EPS of 37 cents, topping consensus estimates of 16 cents.
Revenues in the quarter fell 22.6% to $144.6 million, but came in ahead of consensus estimates of $125.1 million.
Solarfun said PV module shipments rose to 102.6 MW in the third quarter of 2009, an increase from 41.8 MW in the third quarter of 2008 and from 64.3 MW in the second quarter of 2009.
Peter Xie, President of Solarfun, commented, "We expect to see a healthy demand environment in 2010. The preliminary shipment target for 2010 is 500 MW."
The company projects Q4 shipments of approximately 110 MW, with module processing services accounting for about 20% of the total shipments.
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