BEIJING (dpa-AFX) - Daqo New Energy Corp. (DQ) released earnings for second quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings totaled $103.72 million, or $1.34 per share. This compares with $627.82 million, or $8.18 per share, in last year's second quarter.
Excluding items, Daqo New Energy Corp. reported adjusted earnings of $134.55 million or $1.75 per share for the period.
Analysts on average had expected the company to earn $4.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 48.7% to $636.72 million from $1.24 billion last year.
Daqo New Energy Corp. earnings at a glance (GAAP) :
-Earnings (Q2): $103.72 Mln. vs. $627.82 Mln. last year. -EPS (Q2): $1.34 vs. $8.18 last year. -Analyst Estimates: $4.67 -Revenue (Q2): $636.72 Mln vs. $1.24 Bln last year.
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