ReneSola Q1 Loss Narrows - Quick Facts

(RTTNews) - ReneSola Ltd. (SOL) reported that its first-quarter net loss to holders of ordinary shares narrowed to $14.59 million or $0.07 per share, from a loss of $39.00 million or $0.23 per share, prior year. Loss per ADS was $0.14, compared to a loss of $0.45.

Analysts polled by Thomson Reuters expected the company to report a loss per share of $0.08 for the quarter. Analysts' estimates typically exclude special items.

Total solar module shipments were 521.1 megawatts (MW). Total solar wafer and module shipments were 710.1 MW. Net revenues increased to $414.97 million from $284.16 million, a year ago. Analysts expected revenue of $425.54 million for the quarter.

For the second quarter of 2014, the company expects its total solar module shipments to be in the range of 480 MW to 500 MW, and its gross margin to be in the range of 12% to 14%. The company reiterated its total solar module shipments for full year 2014 to be in the range of 2.3 GW to 2.5 GW.