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JA Solar (JASO) Up After Missing On EPS, Beating On Revenues
JA Solar (JASO) gapped up big out of the gates this morning after reporting a wider loss of .11/share on a non GAAP basis, but beating revenue estimates of $118 by reporting $143.5 in revenue. It has reiterated its guidance for revenues this year in the range of $830 – 952 million which should put the company close to analyst expectations of $854 million.
The company remains fairly liquid with $282 million in cash and equivalents and $433.8 million in working capital.
Shares are trading well off the highs of the morning but still up nearly 8%.
UPDATE (more details from conference call):
- Q1 expected to be weakest quarter of the year
- availability of project financing has limited solar growth in the near term, but long term the picture is bright
- the German winter will end soon with installation picking up again in April (Germany expected to be largest solar installer this year)
- Italy remains robust while France & Japan have new subsidy programs and attractive incentives
- expects increasing adoption of solar in the US within a few months as new utility scale projects and federal projects initiated
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