JA Solar flips to profit, raises outlook
LOS ANGELES/NEW YORK (Reuters) - China's JA Solar Holdings Co Ltd posted a quarterly profit on Tuesday and raised its outlook on strong demand for photovoltaic electricity generating equipment.
The company, like others in the sector, has seen sales jump this year as developers in Germany rush to build projects ahead of the planned cuts to solar subsidies in the world's No. 1 solar market in the second half of this year.
Net income for the first quarter was $38.4 million, or 24 cents per ADS, a big turnaround from a year-earlier loss of $201.0 million, or $1.24 per share.