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JA Solar posts quarterly loss, cuts sales goal

Thu, 08/18/2011 - 5:32am
Reuters

NEW YORK (Reuters) - Chinese solar panel maker JA Solar Holdings Co Ltd reported a quarterly loss on Thursday due to plunging prices on solar equipment and cut its full-year sales forecast, sending its shares down more than 11 percent.

The solar industry has suffered through a dismal 2011 as a glut of inventory has sent prices of solar panels sharply lower, squeezing profit margins in the young industry.

Subsidy cuts in Germany, the world's largest market for the photovoltaic solar modules, and uncertainty in Italy, the No. 2 market, caused a "sudden and severe disruption," Chief Executive Peng Fang said.

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