JinkoSolar Holding Co. Ltd. (NYSE: JKS) reported strong fourth-quarter results, with its shipments and total revenues exceeding high-end guidance by 16.1% and 21.7%, respectively.
The company reported net income of US$55.8 million or $0.59 per share. The revenues for the quarter were RMB 1.77 billion, or US$267.74 million as compared with RMB 687.83 million in the previous year.� Revenues exceeded the company�s guidance of� US$210 million to US$220 million, increasing 22.9% sequentially and 156.9% year-over-year. The solar product shipments were a record 162.6 megawatts, exceeding previous guidance of 130 MW to 140 MW, compared to 134.8 MW in the third quarter of 2010 and 98.0 MW in the fourth quarter of 2009, representing an increase of 20.6% sequentially and 65.9% year-over-year.
For the full year, the company reported revenues of a record RMB4.7 billion, or US$705.3 million, an increase of 196.9% from 2009. The gross margin was 29.2%, compared to 14.7% for the full year 2009. The company recorded net income of a record RMB881.9 million, or US$133.6 million, an increase of 932.7% from 2009. The diluted earnings per share recorded were RMB10.92, or US$1.65, as compared to diluted loss per share of RMB0.73 for the full year 2009. The diluted earnings per ADS were RMB43.69, or US$6.62 as compared to diluted loss per ADS of RMB2.93 for the full year 2009. The solar product shipments increased 116.3%, recording 480.3 MW as compared to the company’s previous guidance of 448 MW to 458 MW.
The company expects revenues for the first quarter of fiscal 2011 to be in the range of $280 million to $290 million. The fiscal-2011 revenues are expected to be in the range of $1.4 billion to $1.5 billion.
JinkoSolar Holding stock is currently trading at $30.13, 2.87% from its previous close. JinkoSolar Holding shares touched the high of $32.21 and lowest price in today�s session is $29.55.
The company stock traded in the range of $8.23 and $41.75 during the past 52 weeks. The company�s market cap is $2.57 billion.
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