Yingli Green Energy Records Profit In Q2

(RTTNews) - Yingli Green Energy Holding Co. (YGE) Tuesday reported second quarter net profit of RMB71.8 million or $10.8 million and earnings per ADS of RMB4.0 or $0.6, compared to loss of RMB 598.13 million. On an adjusted basis earnings were RMB106.8 million or $16.1 million or ADS per share of RMB5.9 or $0.9.

For the quarter, revenue increased to RMB2.524 billion or $379.8 million, compared to RMB2.351 billion a year ago.

Looking ahead the company expects its PV module shipments to in a range of 300 to 400 mw for the quarter ending September 30, 2016. The company also expects its gross margin in the third quart of 2016 to be in the estimated range of 12.5 to 14 percent.