LONDON (Thomson Financial) - Suntech Power Holding Co. Ltd said Thursday first-quarter net income rose to $55.8 million, or 33 cents per American depositary share, from $50.6 million, or 29 cents a share, in the same quarter a year ago.
The U.S.-listed Chinese solar cell manufacturer said adjusted net income for the quarter came in at $60.6 million, or 35 cents per share.
Revenue for the three-month period climbed 76.1% to $434.5 million.
The mean estimate of analysts polled by Thomson Reuters was for earnings of 28 cents a share on revenue of $378 million.
The company expects to post second-quarter revenue in the range of $430 million to $440 million.
For 2008, it sees revenue in a range of $1.9 billion to $2.1 billion, with about 40% of this estimate likely to be achieved in the first six months of the year and the remainder in the second half.
The Thomson Reuters mean estimate is for second-quarter revenue of $426.6 million and and full-year revenue of $1.98 billion. mark.cotton@thomsonreuters.com mc1/jlc COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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