BEIJING (dpa-AFX) - Daqo New Energy Corp. (DQ) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $44.95 million, or $0.64 per share. This compares with $332.73 million, or $4.71 per share, in last year's fourth quarter.
Excluding items, Daqo New Energy Corp. reported adjusted earnings of $65.95 million or $0.94 per share for the period.
Analysts on average had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 44.8% to $477.13 million from $864.25 million last year.
Daqo New Energy Corp. earnings at a glance (GAAP) :
-Earnings (Q4): $44.95 Mln. vs. $332.73 Mln. last year. -EPS (Q4): $0.64 vs. $4.71 last year. -Analyst Estimates: $0.84 -Revenue (Q4): $477.13 Mln vs. $864.25 Mln last year.
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