JA Solar (JASO) staged a very bullish breakout move today with heavy volume, up 16% on the day. It’s up another 6% in after hours trading after the company raised its 4th quarter and full year 2009 guidance and announced a share repurchase plan.
Due to strong demand, the company expects 4th quarter shipments to exceed 210MW which is above the previous estimate of 170 – 200MW. For the full year 2009, the company expects shipments to exceed 488MW which is also above the previous estimate of 448 – 478MW. For 2010 they are estimating shipments at 750MW to 800MW
Baofang Jin, CEO of JASO commented, “We continue to make progress in our global customer development, and are seeing strong demand for our high quality solar products from all major markets, including Germany, China, U.S., Italy, South Korea, Spain and France. We also expect strong growth from our newer markets, such as the Czech Republic and Japan.”
The company is backing up those bullish comments with action too. They have announced a plan to repurchase up to $75 million in US ADS shares effective immediately, reflecting their optimism going forward.