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China Sunergy Q4 Loss Deepens

By Eric Volkman - Apr 12, 2013 at 10:49PM

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The solar cell and module maker also reports a deeper shortfall for full-year 2012.

China Sunergy (CSUNY) results for the company's fiscal Q4 and 2012 have been released. For the quarter, total sales were $54.4 million, less than half the $110.8 million the firm posted in the same period the previous year. Net loss, meanwhile, was steeper at $70.5 million ($5.27 per diluted American Depositary Share), compared to Q4 2011's red figure of $49.6 million ($3.71).

For the full year, sales totaled $292.7 million, far less than the 2011 figure of $566.3 million. Net loss deepened to $133.6 million ($9.99 per diluted ADS), from 2011's $94.3 million ($7.05).

China Sunergy also proffered guidance for future deliveries. It anticipates total shipments of 100MW-110MW in Q1 2013, with gross margin matching that of Q4 2012. For the full fiscal year, the former is expected to come in at 550MW-600MW.

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