Editorial Summary

Jiangsu-based photovoltaic cell manufacturer Suntech Power Holdings Company (NYSE: STP) reported first quarter net revenue of $434.5 million, up 76.1 percent year-on-year, before open market on Thursday. Net income came in at $55.8 million, up 113.8 percent year-on-year. Suntech's PV cell production capacity remained at 540 MW with hopes to reach 1 GW by the end of 2008.

The company is targeting second quarter revenue between $430 million and $440 million, and maintains full year guidance of revenue between $1.9 billion and $2.1 billion with PV module shipments of 530 MW. Suntech intends to achieve 40 percent of this target in the first half.