SunTech Power (STP $5.24 +0.14) reported a second quarter loss of $0.19 per share, vs. the Capital IQ Consensus Estimate of $0.19. Revenues rose 32.9% year/year to $830.7 million versus the $793.7 million consensus.
The company issued in-line guidance for fiscal year 2011 with revenues guidance for $3.2-3.4 billion versus the $3.23 billion Capital IQ Consensus Estimate.
In the third quarter of 2011, STP expects PV shipments to increase by over 15% compared with the second quarter of 2011. STP expects gross margin will be in the range of 11-13% in the third quarter of 2011. STP expects to incur losses related to hedging and foreign exchange of approximately $30 million in the third quarter of 2011.
For the fiscal year ending December 31, 2011, the company expects to ship at least 2.2GW of solar products and generate revenues of $3.2-3.4 billion, subject to changes in foreign exchange rates. Excluding the $91.9 million impact of the MEMC warrants, non-GAAP gross margin for the full year 2011 is expected to be range of 13-15%.






