ReneSola Turns To Profit In Q4 - Quick Facts

(RTTNews) - ReneSola Ltd (SOL) said that its net income attributed to the company for the fourth quarter ended December 31, 2013 was $791 thousand or $0.01 per ADS, compared to a loss of $88.91 million or $1.03 per share in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share. Analysts' estimates typically exclude special items. Net revenues for the quarter rose to $438.84 million from $306.45 million in the prior year quarter. Two analysts had consensus revenue estimate of $381.40 million for the quarter.

For the first-quarter 2014, the company expects total solar module shipments to be in the range of 500MW to 520 MW, and gross margin to be in the range of 9% to 11%.

For full year 2014, the company expects total solar module shipments to be in the range of 2.3 GW to 2.5 GW.

For year 2014, the company does not have any plans for internal capacity expansion.