JA Solar Turns To Profit In Q3

(RTTNews) - JA Solar Holdings Co., Ltd. (JASO) Tuesday reported a third-quarter profit compared with a loss last year, driven by higher revenues, improved gross margin and controlled operating expenses.

The company recorded a profit of RMB155.42 million or $25.32 million, compared with a loss of RMB227.03 million in the previous year. Earnings per share were RMB0.51 or $0.08, compared with a loss of RMB1.35 per share a year earlier.

Excluding certain items, the company recorded a profit of RMB77.91 million or $12.69 million. Adjusted earnings per share totaled RMB0.26 or $0.04.

On average, five analysts polled by Thomson-Reuters estimated earnings to be $0.18. Analysts' estimates typically exclude one-time items.

Net revenues increased to RMB3.02 billion or $492.23 million from RMB1.76 billion last year. Analysts projected revenues to be $425.25 million.

Revenue growth is attributable primarily to a shift in sales to modules, the company said.

JA Solar's total shipments grew 57 percent year-over-year to 785.4 MW, while module shipments increased 127.4 percent to 693.5 MW.

Looking ahead, the company expects fourth-quarter total shipments to be in the range of 850 MW to 900 MW and full year shipments in the range of 3.1 GW to 3.2 GW.