Solarfun (SOLF) Reports About Inline, Sees Shipments Doubling This Year

Solarfun Power (SOLF) reported Q4 results about inline with expectations.  The company reported an EPS of $0.25 which was one cent better than analyst estimates.  Revenue for the quarter was $183.5 million, which compares to the estimate of $184.55 million.  The results were very similar to what most of the China solar companies are reporting.. big improvements over the year ago quarter and significant sequential improvement.  There is one difference with SOLF in that they didn’t report a sequential increase on the EPS side this quarter.  They reported .37/share last quarter vs the .25/share this quarter.

Not a bad quarter, but not a great quarter like Suntech just reported.  Traders aren’t all that impressed either sending the stock down a few percent in premarket trading.

Looking ahead, the company expects shipments to be 130 – 140MW this quarter (20 – 30% increase over last quarter) and average selling prices for PV modules to decline by about 10%.  For the full year 2010, the company expects shipments of 600MW which would be nearly double the shipments over last year.  Again, this is about inline with what the other China solar companies are seeing.

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