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JA Solar (JASO) drops 14.3% premarket after reporting Q2 revenue of $413M (+12% Y/Y) and EPS of...

JA Solar (JASO) drops 14.3% premarket after reporting Q2 revenue of $413M (+12% Y/Y) and EPS of -$0.22, missing consensus by $5.6M and $0.19. Gross margin fell to -2.7%. The company is lowering its 2011 shipment forecast to 1.8GW from a prior 2.2GW. Like other solar names, JA Solar blames European weakness for its poor results.
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Comments (2)
  • Clean Energy Intel
    , contributor
    Comments (625) | Send Message
     
    Despite the terrible earnings and overall market weakness, JASO has bounced hard and is now up on the day. It looks like this could be the company's recently announced $100m share repurchase program in action. Full details -

     

    www.cleanenergyintel.c...

     

    Against a $633m market cap this is obviously decent size.
    18 Aug 2011, 01:55 PM Reply Like
  • Cwaggy1
    , contributor
    Comments (17) | Send Message
     
    The board's buy-back is simply a response to market weakness but if it builds value for investors, that's the ballgame!
    28 Sep 2011, 02:14 PM Reply Like
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