Hoku Materials, Inc. and Solarfun just announced a renegotiation of the polysilicon supply contract between the two companies. Solarfun was previously obligated to pay Hoku $18 million by March 31st, but the agreement has been changed so that Solarfun can pay in installments according to the following schedule: 1) $5 million paid on March 30; 2) $8 million in July $2009; 3) $5 million to paid in installments of $1 million each during August and … Read the rest
Tag Archives: solarfun
SolarFun (SOLF) Reports Another Steep Loss, Sees Gradual Improvement
These solar earnings reports really aren’t a surprise anymore. Just more of the same – global economic weakness, credit difficulties, plummeting raw material prices, an inventory glut and so on. From here it’s just a matter of demand picking up to offset the weakness in the cost of the finished product. The important thing to remember is that solar stocks will begin rising long before that equation comes into balance. We’ve seen a good pop … Read the rest
Solarfun (SOLF) Beats On EPS But Revenues Light
Solarfun (SOLF) reported an EPS before one time provision adjustments of .16/share which represents a decline in growth over the year ago quarter for the first time in a few years but did beat low analyst expectations of .14/share. Quarterly revenue came in at $187.8 million, good for an 88% increase over the year ago quarter but a bit below analyst estimates of 195 million. The company sees Q4 shipments to be at or slightly … Read the rest
Solarfun Releases Results for Second Quarter (SOLF)
MSN Money reports that Solarfun Power Holdings, a company that manufactures silicon ingots and photovoltaic cells, has just released its financial results for the second quarter.
Some highlights of the report were as follows:
Since the first quarter of 2008, net revenue has increased 12.7% to 197.1 million US dollars. The average selling price of Solarfun stock has also increased, from $4.07 to 4.17/share. Over the past year, the company’s operating profit has increased … Read the rest
Jefferies Initiates Solarfun (SOLF) With A Buy
According to Street Insider, Jefferies has initiated Solarfun (SOLF) with a Buy rating and a price target of 18.
An article at Seeking Alpha makes the case for Solarfun being a “solar giant”.… Read the rest
Solarfun (SOLF) Announces Passing Of COO
Solarfun (SOLF), the Chinese manufacturer of PV cells, has just announced the passing of its COO Hanfei Wang, who played a key role in the company’s growth strategy. Chairman Yonghua Lu, stated, "We are deeply saddened by Hanfei’s sudden and unexpected death. He was a leader in every respect – professional, passionate and driven to achieve excellence for Solarfun and his colleagues."… Read the rest