JA Solar (JASO) Beats, Also Sees Strong 2011

JA Solar (JASO) joined Trina Solar (TSL) in posting strong earnings results.  The company beat analyst estimates by posting an EPS of .59/share on revenues of $585 million vs the analyst estimate for .48 in EPS on revenues of $570 million.  That’s good for quarter over quarter growth of 392% and 145% respectively.  The company reported record shipments of 463MW during the quarter which doubled the year ago quarterly output. 

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CEO Peng Fang commented: “As one of the world’s largest solar cell producers, JA Solar is well-positioned to take advantage of robust industry growth in 2011. With demand for our products currently well ahead of what we can produce, we intend to quickly ramp up production capacity in 2011. In particular, we intend to increase solar cell production capacity to more than 3GW, while module capacity is expected to increase to 800MW and wafer capacity to 600MW by year-end. We also intend to continue focusing on developing innovative new technologies that can enable us to further optimize our cost structure and ensure that our high quality solar products are even more attractive to our customers."

Looking ahead, the company sees a strong 2011 with shipments increasing about 50% over last year to around 2.2GW

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