Daqo New Energy has revised its guidance for its 2010 fourth quarter, marking an improvement over what the company previously forecasted for the period that ended on December 31. Combining customer orders with product deliveries, Daqo New Energy approximates that its fourth-quarter shipments of polysilicon are between 930MT and 950MT, far above the 825-850MT the company previously predicted.
Furthermore, Daqo New Energy saw the fourth quarter ship between 3-4MW of PV modules, compared to its previously anticipated 4MW to 5MW. Taking into account the shipments, total revenue for the fourth quarter is anticipated to fall between US$75 to US$76 million, in contrast to the prior estimation of US$65 to US$69 million.
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In addition to revealing its new guidance for the fourth quarter, Daqo New Energy has revealed plans for its second-phase polysilicon production facility in Shihezi Economic Development Area in the independent Xinjiang, China area. Production in the new facility is expected to begin in the third quarter of 2012 and be fully operational by the end of 2012.
“We are happy to raise the fourth-quarter guidance due to better than expected customer demand and pricing environment. Furthermore, we are pleased to report that we have made encouraging progress in pursuing our polysilicon production capacity expansion strategy. Our periodical maintenance and capacity enhancement of our Phase 1 polysilicon manufacturing facility undertaken in December 2010 had been completed on schedule, and we have selected the location for our Phase 2 polysilicon manufacturing facility,” said Dr. Gongda Yao, chief executive officer of Daqo New Energy. “The successful completion of the Phase 1 capacity enhancement project has increased our total production capacity to 4300MT in 2011, which will help us to better serve our customers in the future.”
