Daqo New Energy Corp. (DQ: Quote) announced its unaudited financial results for the second quarter of 2012. Net loss attributable to shareholders was $7.1 million, compared to net income of $25.7 million in the second quarter of 2011. Loss per ADS were $0.20, compared to net income $0.73 in the second quarter of 2011.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.29 per share on revenues of $32.60 million for the quarter. Analysts' estimates typically exclude special items.
Revenues were $30.6 million, compared to $70.7 million in the second quarter of 2011.The decrease in revenues from the second quarter of 2011 was primarily due to the lower average selling price offset only to a limited extent by the higher sales volume.
For the third quarter of 2012, the Company expects to ship 1000-1200 MT of polysilicon, approximate 6 MW of wafers, 8 MW of wafers OEM and 3.0 MW of modules. In addition, the Company expects to provide 200 metric tons of ingot and block manufacturing outsourcing services to its customers.
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by RTT Staff Writer
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