Editorial Summary

Nanjing-based solar cell manufacturer China Sunergy reported first quarter revenue of $77 million, up 32.3 percent year-on-year and 7.8 percent quarter-on-quarter, before market on Tuesday. Sunergy recorded net income of $0.5 million, compared to income of $5.4 million in the year-ago period and a loss of $2.3 million last quarter. In the three month period, Sunergy's production increased 1.3 percent quarter-on-quarter to 22.6 MW, while shipments reached 24 MW. The company expects gross margins of 9-10 percent for the second quarter on production volume of 30-32 MW. Sunergy maintains its full year production target of 125-145 MW.