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Energy

Hanwha SolarOne’s Results Worse than Bad (HSOL)

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By Paul Ausick Published
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South Korean-owned solar panel maker Hanwha SolarOne Co. Ltd. (NASDAQ: HSOL) reported fourth quarter and full-year earnings this morning, and the company may have put up the worst numbers yet for any solar maker.

Hanwha SolarOne, formerly known as Solarfun, reported a fourth-quarter earnings loss of $1.57 per ADS, while the consensus estimate called for a loss of $0.32. Revenue fell to $155.4 million, also below expectations of $165 million. Year-over-year, revenue declined by more than 50%.

The company was essentially giving away its products: gross margins were -61.8% compared with 21.9% a year ago. That’s not a misprint. The company lost a ton of money on each panel it sold.

Shares are down more than -7% in the pre-market, at $1.26, but they’ll probably head lower as the day goes on. The stock’s 52-week range is $0.91-$7.80.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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