Major merchant solar cell producer Neo Solar Power (NSP) reported first quarter 2015 sales down around 37% from the same period a year ago as demand remained weak.
NSP reported first quarter sales of NT$4.63 billion (US$151.19 million), compared to sales of around US$237.6 million in the prior-year period, which was well ahead of the US anti-dumping rulings sanctioned.
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NSP’s sales declined further (5.98%) in April, compared to the previous month to US$1.557 billion (US$50.84 million) but still a 39% decline from the prior-year period.
The company reported a first quarter net loss after tax of NT$492 million (US$16.06 million).
Due to overall expected global market demand in 2015, NSP said it expected sales to recover as the year progresses.