Solarfun (SOLF) Updates Outlook, Sees Improvement In Demand, Shares Surge Above 50DMA

Posted by | # |
09:35:47 am on September 17, 2009

Solarfun (SOLF) is out with a 3rd quarter update and sees Q3 module shipments exceeding 100MW, with sales of RMB918-RMB984 million. Gross margin will be about 17% for the quarter.

Peter Xie, President of Solarfun, commented, “The third quarter of 2009 is progressing well. Our order patterns are strong as we are seeing an improvement in end market demand. Our efforts to realign supply costs to reflect current market pricing combined with our increase in production capacity at our in-house ingot and wafer manufacturing facilities should allow us to achieve healthy margins in the third quarter. We continue to face a highly competitive pricing environment, but we remain fully confident in our ability to win business as market demand recovers.”

Shares of SOLF are up about 10% this morning and trading back above resistance of the 50 day moving average.

Tags: ,
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.


No comments yet.

Leave a comment