Motech Industries released its Q3 2011 financial results, which saw the company’s revenue grow 17% over Q2 2011 results to US$251.83 million. Additionally, the company’s net losses went down to US$19 million, from the second quarter’s US$21.47 million.
Digitimes commented that Motech advised that its net losses were lower due to materials costs diminishing, coupled with an enhanced number of shipments. Motech additionally noted that it expects prices to continue dropping in Q4 and possibly throughout 2012 due to what it perceives as a lopsided amount of supply and demand in the market.
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Motech commented that cell and module prices stabilized in the early part of Q3, but then dropped again towards the end of September. Furthermore, wafer prices saw increased market pressure during the third quarter, while polysilicon prices fell moderately and are expected to further decline in Q4. The company expects inventory in 2012 to further weaken, with priced dropping in a direct correlation.
During Q3 2011, Motech’s cell capacity reached 1.5GW per year with its in-house wafer capacity amounting to 500MWp. The company shipped 330MW during the third quarter and advised that it saw the strongest demand during the quarter coming from Europe.
