ReneSola Issues Q1, 2016 Revenue Outlook - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, China-based solar technology products developer ReneSola Ltd. (SOL) provided its revenue outlook for the first quarter and fiscal 2016.

For the first quarter of 2016, ReneSola forecast revenue in a range of $260 million to $270 million, and gross margin to be around 17 percent. Two analysts polled by Thomson Reuters expect revenues of $293.30 million for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2016, ReneSola projects revenue $1.0 billion to $1.2 billion. The Street expects revenues of $1.25 billion for the year.

The company's full-year revenue outlook reflects continued shift of OEM module production from external sales and toward proprietary project development to pursue high profit.