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NEW YORK — Solar cell maker Yingli Green Energy Holding Co. on Wednesday posted a second-quarter loss driven by one-time charges, sending shares tumbling in premarket trading.
Shares of Yingli fell 12.5 percent, or $1.47, to $10.27.
The Baoding, China-based company reported a loss of 393.7 million Renminbi ($57.6 million), or 3.03 Renminbi per American Depository Share (44 cents per ADS), compared with earnings of $203.9 million Renminbi, or 1.57 Renminbi per ADS ,during the same period last year.
Results include charges related to debt extinguishment and derivative liabilities. Excluding one-time items, adjusted earnings amounted to 119.8 million Renminbi ($17.5 million), or 0.91 Renminbi per ADS (14 cents per ADS).
Analysts polled by Thomson Reuters estimated a profit of 4 cents per share, on average. Analysts typically exclude one-time items.
Revenue fell 25 percent to 1.5 billion Renminbi ($219.5 million), from 2 billion Renminbi last year. Analysts forecast an average revenue of $213.5 million.
Yingli reaffirmed its full-year module shipment target in the range of 450 megawatts and 500 megawatts for 2009.
