Suntech Power Holdings 2Q Financial Results
Aug 20, 2008 – Suntech Power Holdings Ltd. [STP ], a leading PV solar energy 
company, announced today its 2Q 2008 financial results. Total net revenues grew over 51% to $480 million and net income was $65.2 million equivalent to $0.38 per diluted ADS, which represents one ordinary share. Suntech’s PV cell production capacity was 660 MW at the end of the 2Q & is on target to be 1GW by the end of 2008. Suntech raised its 2008 revenue guidance to $2.05-2.15 billion. Suntech has also entered into a number of supply agreements to secure their increasing need for silicon.
Suntech shares were over $88 at the beginning of the year and down to about $34 on August 15. This optimistic news prompted the shares to close today up $4.62 to $41.75, a gain of over 22% since August 15.
