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JA Solar Holdings Co, Ltd (JASO) Revises Guidance
JA Solar announced it is revising it’s guidance for the 4th quarter based on the economic slowdown.
Previously, the company had predicted revenue of RMB 1.3 billion or $191.5 million to RMB 1.5 billion or $220.9 million. However. JA Solar has reduced that expectation to about RMB 843 million or $124 million. The company still expects to earn a gross margin of between 5 to 7 percent and expects to break even on earnings/ADS.
As far as production is concerned, JA Solar’s output has also been updated from 310 MW for the 2008 fiscal year to 250-260 MW.
Samuel Yang, JA Solar’s CEO commented on the adjustment, stating:
“Over the past few weeks, we have seen a dramatic slowdown in orders, which we believe is related to macro economic conditions. We remain positive about JA Solar’s overall competitive position, and continue to expect profitable growth in 2009.”
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