ReneSola Tops Q4 Estimates, Sees Q1 Revenue Below Street Est

March 07, 2011

ReneSola (SOL) reports Q4 revenue of $386.4 mln, better than the analyst consensus of $366 mln on Thomson Reuters. Earnings per ADS were $0.70, vs. expectations of $0.69. For Q1 2011, the company expects total solar wafer and module shipments to be in the range of 320 MW to 330 MW, revenues to be in the range of US$310 million to US$330 million and gross profit margin to be in the range of 30% to 32%. The Street view for Q1 revenue is $342 mln. For the full year 2011, the company expects total solar wafer and module shipments to be in the range of 1.6 GW to 1.7 GW, representing an increase of 35% to 44% year-over-year.