Daqo New Energy Corp. (DQ) reported that its fourth-quarter net loss attributable to shareholders was $75.6 million, compared to a loss of $39.4 million in the fourth quarter of 2011. Loss per ADS was $10.76 compared to a loss of $5.61 in the fourth quarter of 2011.
Excluding $42.8 million of long-lived asset impairment and $19.9 million valuation allowance for deferred tax asset, the non-GAAP net loss attributable to shareholders was $12.9 million.
Revenues were $6.2 million, compared to $27.3 million in the fourth quarter of 2011. The sales proceeds from polysilicon made by the Xinjiang facilities during pilot production period were excluded from the revenues recorded in the fourth quarter of 2012.
For the first quarter of 2013, the company expects to ship 720 MT of polysilicon. The company also expects to ship approximately 3.6 MW of wafer and 150 MT of polysilicon ingots and blocks.
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