In an announcement late yesterday, JA Solar Holdings (NASDAQ:JASO) cut its revenue estimate for the fourth quarter to $124 million, down from a range of $191.5-$220.9 billion. The company did not change its guidance on expected gross margin (5%-7%) and break-even non-GAAP earnings.
The company’s CEO pointed to a "dramatic slowdown in orders" recently,which he blamed on "macro economic conditions." He did say the companyexpects to make a profit in 2009. One has to wonder how it plans to dothat.
The stock is down 7% to $2.65 in pre-open trading this morning, 90% below its 52-week high.
Paul Ausick
December 11, 2008
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
