JinkoSolar Q4 Loss Widens
Apr 10th 2013 8:02PM
Updated Apr 10th 2013 8:06PM
JinkoSolar suffered a widened quarterly loss, as revealed in the release of its fiscal Q4 and 2012 results. For the quarter, revenue for the China-based solar specialist was the equivalent of $187 million, down from $192 million in the same period the previous year. Net loss widened over that time span, to $122 million, or $1.38 per share, from Q4 2011's red figure of $59 million, $0.65.
The most recent quarter's numbers fell well short of analyst expectations, which were for $245 million in revenue and a per-share loss of $0.80.
For the full year, the top line was $770 million, a steep fall from the 2011 figure of $1.18 billion. The company swung into the red in 2012, posting a net loss of $248 million, or $2.79 per diluted share, against the previous year's profit of $44 million, $0.46.
JinkoSolar also provided forward guidance for its delivery figures. For its current Q1 2013, total module shipments are anticipated to be 270 to 300 megawatts. The company also believes it will "maintain in-house annual silicon wafer, solar cell, and solar module production capacity at approximately 1,200 MW each by the end of 2013."
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