BEIJING (dpa-AFX) - Daqo New Energy Corp. (DQ) announced a profit for second quarter that dropped from last year.
The company said its bottom line totaled $13.77 million, or $1.29 per share. This was lower than $22.01 million, or $2.08 per share, in last year's second quarter.
Analysts had expected the company to earn $1.38 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter rose 7.0% to $76.00 million. This was up from $71.02 million last year.
Daqo New Energy Corp. earnings at a glance:
-Earnings (Q2): $13.77 Mln. vs. $22.01 Mln. last year. -Earnings Decline (Y-o-Y): -37.4% -EPS (Q2): $1.29 vs. $2.08 last year. -EPS Decline (Y-o-Y): -38.0% -Analysts Estimate: $1.38 -Revenue (Q2): $76.00 Mln vs. $71.02 Mln last year. -Revenue Change (Y-o-Y): 7.0%
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