Editorial Summary

Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF) reported first quarter results with net revenues of $171 million, up 529 percent year-on-year and 21 percent quarter-on-quarter, before market on Wednesday. Net income for the company was $15.3 million, compared to $9.1 million in the previous quarter and a loss in the year-ago period. PV module shipments were up 40 percent quarter-on-quarter to 40.3 MW with per watt prices of $4.07.

Solarfun expects to ship between 40 MW and 45 MW with average prices of $4 per watt in the second quarter. Gross margins are projected to fall sequentially for the three month period. Shipments for the full year are expected to come in between 160 MW and 180 MW with aggregated annual manufacturing capacity projected to reach 360 MW on Qidong facility expansion.