Jinkosolar Holding announces Strong Fourth-Quarter Results

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 RMB 368.31 million for the fourth quarter as compared to RMB 53.85 million in the year-ago quarter. The net income per share for the quarter was RMB 3.90 as compared to RMB 1.06 last year. The net income per ADS for the fourth quarter was RMB 15.61 as compared RMB 4.25 in the prior year. The revenues exceeded its guidance of US$210 million to US$220 million, increasing 22.9% sequentially and 156.9% year-over-year. The total solar product shipments were a record 162.6 megawatts, exceeding previous guidance of 130 MW to 140 MW as 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. The company reported gross margin of 28.5% as compared to 33.5% for the third quarter of 2010 and 16.2% for the fourth quarter of 2009.

For the full year, the company reported revenues of RMB 4.7 billion (US$705.3 million), a record increase of 196.9% from 2009. The company recorded net income of a record RMB 881.9 million (US$133.6 million), an increase of 932.7% from 2009. The diluted earnings per share recorded were RMB 10.92 (US$1.65) as compared to diluted loss per share of RMB 0.73 for the full year 2009. The diluted earnings per ADS were RMB 43.69 (US$6.62) as compared to diluted loss per ADS of RMB 2.93 for the full year 2009. The solar product shipments increased 116.3%, recording 480.3 MW as compared to its previous guidance of 448 MW to 458 MW.

The company expects revenues to be in the range of $280 million to $290 million for the first quarter of fiscal 2011. 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 $26.10. The stock is up 5.16% from its previous close. JinkoSolar Holding shares touched the high of $26.18 and lowest price in today�s session is $25.25.

The company stock has traded in the range of $8.23 and $41.75 during the past 52 weeks. The company�s market cap is $617.98 million.

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