Solar-cell manufacturer JA Solar Holdings updated its Nov. 12 fourth-quarter financial guidance, lowering its revenue expectations in the range of 30-35% for the period. The company also reduced its annual production output projections by 16-19%.
The company says it expects revenue in the fourth quarter to be approximately $124 million (RMB 843 million), compared with earlier guidance of $191.5 million to $220.9 million (RMB 1.3 billion-1.5 billion).
The guidance for gross margin remains in the 5-7% range and non-GAAP earnings per ADS to be approximately breakeven remains the same, according to JA Solar.
JA Solar’s target for total production output has been updated in the range of 250-260 MW for 2008, from its earlier guidance of 310 MW for 2008. The nameplate annual production capacity guidance remains at 600 MW for the end of this year.
“Over the past few weeks, we have seen a dramatic slowdown in orders, which we believe is related to macro economic conditions,” said Samuel Yang, CEO. “We remain positive about JA Solar’s overall competitive position and continue to expect profitable growth in 2009.”