Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF), a photovoltaic cell and PV module maker in China, is trading higher after the company gave guidance. The outlook for the third quarter of 2009 is for revenues to be RMB918 to RMB984 million, which translates to roughly $134.46 million to $144.12 million after converting to US Dollars. The consensus estimates from Thomson Reuters is $163.13 million. While this guidance looks soft, it appears to be good enough or close enough when you look at the other forecasts it gave.
The company said that total module shipments will exceed 100 MW. It also gave a margin guidance of approximately 17%.
While it discussed a highly competitive pricing environment, its CEO noted, “….Our order patterns are strong as we are seeing an improvement in end market demand.”
Shares of Solarfun are up 9.5% at $6.79 and we have already seen some 1.41 million shares trade hands versus an average volume of 1.37 million shares. Its 52-week trading range is $2.27 to $15.31.
JON C. OGG
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