ReneSola Q2 Loss Narrows - Quick Facts

(RTTNews) - ReneSola Ltd (SOLA.L, SOL) reported that its second-quarter net loss to holders of ordinary shares narrowed to $21.06 million or $0.12 per share, from $34.79 million or $0.20 per share, a year ago. Loss per ADS for the quarter was $0.24, compared to a loss of $0.40, prior year.

On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.30 per share for the quarter. Analysts' estimates typically exclude special items. Net revenues rose year-over-year to $377.36 million, from $233.04 million. Analysts expected revenue of $367.73 million for the quarter. For third quarter, the company expects total solar wafer and module shipments to be in the range of 730 MW to 750 MW, with solar module shipments expected to be in the range of 430 MW to 450 MW. Revenues are expected to be in the range of $360 million to $380 million and gross margin is expected to be in the range of 7% to 9%.

For the full year 2013, the company expects total solar wafer and module shipments to be in the range of 2.8 GW to 3.0 GW, with solar module shipments expected to be in the range of 1.6 GW to 1.8 GW.