Wednesday, June 20, 2012

Jinkosolar (NYSE: JKS) posts wider-than-expected 1st-qtr loss

Jinkosolar (NYSE: JKS) posts wider-than-expected 1st-qtr lossNorthern, WI 6/20/12 (StreetBeat) -- JinkoSolar Holding Co (NYSE: JKS) posted a wider-than-expected first-quarter loss on weak demand and lower selling prices for its solar modules.

First-quarter net loss was $56.6 million, or $2.55 per American Depositary Share (ADS)

The company posted an adjusted loss of $2.36 per ADS.

Analysts were expecting a loss of $1.12 per ADS, according to Thomson Reuters I/B/E/S.

Quarterly revenue fell 51 percent to $168.3 million.

Shares of the company, valued at $101.3 million, closed at $4.53 on the New York stock exchange on Tuesday.

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