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|JA Solar Announces Second Quarter 2012 Results|
Second Quarter 2012 Highlights
"While we recorded a loss for the quarter due to the unfavorable pricing environment, we continue to actively manage costs and operating expenses and have one of the strongest balance sheets in the industry. Our prudent approach to cash management throughout the current downturn has ensured that we have one of the best debt-to-asset ratios among our peers. Looking to the third quarter, our outlook on the market is cautious in light of uncertainty in
Second Quarter 2012 Financial Results
Total shipments in the second quarter of 2012 were 418 MW, in line with the low end of the Company's previously provided guidance of 420 MW to 440 MW. This represents a 14.2% increase from 366 MW in the first quarter of 2012 and a 4.2% increase from 401 MW in the second quarter of 2011.
Revenue in the second quarter of 2012 was
Gross profit in the second quarter of 2012 was
Total operating expenses in the second quarter of 2012 were
Operating loss in the second quarter of 2012 was
Other loss in the second quarter of 2012 was
Tax expense in the second quarter of 2012 was
Loss per diluted ADS in the second quarter of 2012 was
In the second quarter of 2012, the Company had a negative operating cash flow of
The Company maintained a strong balance sheet with cash and cash equivalents of
For the third quarter of 2012, the Company expects total cell and module shipments to be between 350 MW and 370 MW. For the full year 2012, the Company now expects total cell and module shipments to be between 1.5 GW and 1.8 GW, compared with the previously provided full year guidance of 1.8 GW to 2.0 GW. The revised estimates reflect the Company's prioritization of maintaining a healthy financial position over short-term shipment gains.
Investor Conference Call / Webcast Details
A conference call has been scheduled for today,
Currency Convenience Translation
The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the reader, is based on the noon buying rate in the city of
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the
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