BEIJING (dpa-AFX) - Daqo New Energy Corp. (DQ) announced earnings for its first quarter that rose from the same period last year.
The company's bottom line came in at $83.2 million, or $1.08 per share. This compares with $33.2 million, or $0.44 per share, in last year's first quarter.
Excluding items, Daqo New Energy Corp. reported adjusted earnings of $86.2 million or $1.12 per share for the period.
Analysts had expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 51.7% to $256.1 million from $168.8 million last year.
Daqo New Energy Corp. earnings at a glance:
-Earnings (Q1): $86.2 Mln. vs. $37.7 Mln. last year. -EPS (Q1): $1.12 vs. $0.49 last year. -Analysts Estimate: $1.19 -Revenue (Q1): $256.1 Mln vs. $168.8 Mln last year.
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