86 replies to this topic

[odyd]

Wow, May 8th reporting,

they are running for it

[JulyWebb]

Wow, May 8th reporting,

they are running for it

 

Great! http://investors.jas...4160&highlight=

[JulyWebb]

Strange that this is not showing up underneath Yahoo headlines.

[odyd]

Because printing "Why Investors Expect To "Sell In May And Go Away" has a lot better effect.

If you think people are not that naive, then think again.

[Koolinv]

Not sure if this has been posted here before, Jaso parent company chairman was quoted on a government site saying that Jaso is profitable in Q1. "晶龙集团董事长靳保芳高兴地说：“全集团各子公司，以及上市的晶澳太阳能公司全部实现赢利，我们从近年来的光伏寒冬中突出了重围。"
http://www.hebei.gov...0759/index.html

[sunnysky]

Yes, July did yesterday.

Edit: actually it was two days ago - April 29th.

[Koolinv]

can't believe the share price is still below $2 using presplit value. 

[JulyWebb]

Anyone come up with estimates on earnings for JA? Marketwatch shows .06 eps

 .20 as high est.

[explo]

can't believe the share price is still below $2 using presplit value.

Bargains happen.

[explo]

If there is a tax benefit and there is not much one off I agree the results could be even bigger than this and beat estimates.

 

Looks like the tax gain last Q turned into a loss this Q and caused 20 cents per share worse tax line this Q than prior Q. So that explains why they couldn't hit .40+. Other than that I had hoped for a bit higher gross profit. It might be higher Si cost in combination with delayed currency effect (CC will be interesting).

 

Other than that it looks like they hit it hard.

 

http://finance.yahoo...-110000296.html

[eysteinh]

Yeah I like the result, as expected but I agree GM a bit disapointing. CC should hopefully shed some light on this. What I really liked was increased guidance for Q2 - some where worried for that but for JASO this seems not a problem at all. Anyhow I have bearly digested the results (cooking for my wife and reading on cellphone) so I need to study the one offs carefully. Anyhow wish you JASO holders good luck for today! In my mind it was a good result from what I can see skimming it. 

[odyd]

report is in

http://finance.yahoo...-110000296.html

CEDR made it but not the EPS

[odyd]

 

First Quarter 2014 Highlights

• Shipments were 638.1 megawatts ("MW"), consisting of 388.0 MW of modules and 250.1 MW of cells and cell tolling, above the high end of the Company's previous guidance of 610 MW
• Net revenue was RMB 2.3 billion ($366.0 million), an increase of 5.2% from the fourth quarter of 2013 and an increase of 35.7% from the first quarter of 2013
• Gross margin was 16.7%, compared with 15.5%in the fourth quarter of 2013 and 6.0% in the first quarter of 2013
• Operating profit was RMB 160.9 million ($25.9 million), an increase of 173.2% from an operating profit of RMB 58.9 million ($9.5 million) in the fourth quarter of 2013, and compared with an operating loss of RMB 85.2 million ($13.7 million) in the first quarter of 2013
• Net income was RMB 85.0 million ($13.7 million), compared with a net income of RMB 139.5 million ($22.4 million) in the fourth quarter of 2013. Earnings per diluted ADS were RMB 1.41 ($0.23), compared with a profit per diluted ADS of RMB 1.92 ($0.31) in the fourth quarter of 2013
• Cash and cash equivalents at the end of the quarter were RMB 1.9 billion ($313.4 million), compared with RMB 2.1 billion ($341.0 million) at the end of the fourth quarter of 2013
• Operating cash flow was positive RMB 198.2 million ($31.9 million), compared with positive RMB 366.1 million ($58.9 million) in the fourth quarter of 2013
• Non-GAAP net earnings¹ attributable to the Company's ordinary shareholders were RMB 116.2 million ($18.7 million), compared to a non-GAAP net earnings attributable to the Company's ordinary shareholders of RMB 55.1 million ($8.9 million) in the fourth quarter of 2013
• Non-GAAP earnings per diluted ADS in the first quarter of 2014 were RMB 1.99 ($0.32), compared to Non-GAAP loss per diluted ADS of RMB 0.94 ($0.15) in the fourth quarter of 2013

 

[odyd]

Project Assets at $22M nice.

[explo]

What I really liked was increased guidance for Q2 - some where worried for that but for JASO this seems not a problem at all.

 

Yeah the 670 to 700 MW guidance is really solid considering JASO always lowballs and beat (what they state are the shipments they are very certain about) compared to the worries we heard about.

[odyd]

16.7% is a nice improvement, and the mix helped on module volume and geographic distribution. I like the Q2 guidance., setting stage for massive Q3 and Q4. I hope they will be strategic to say stuff like this.

[BIPV Investor]

Seekingalpha seems to quote the none-gaap of 0.06 and makes the news that it is an earnings miss but hit on revenue.

Seeking Alpha is using per share, not per ADS. I'd imagine analyst estimates were per ADS, so Seeking Alpha's automated computer system is really just adding to the confusion.

[pg6solar]

Seekingalpha seems to quote the none-gaap of 0.06 and makes the news that it is an earnings miss but hit on revenue. 

As per Capital IQ, they beat on EPS (ADS) by .24 or 300% (reported .32 vs. expected .08) and on the top as well.

[eysteinh]

Good stuff. Hopefully more positive news on the wire. 

So having skimmed the numbers further:
- Equity gain of 17 million QoQ - great this is a healthy company.

- MCAP still less than equity (good from a fundamental value standpoint)
- Increased shipments QoQ and stable inventory % of revenue  (inventory now 66% of revenue vs 62% in Q4)

-.Opex quite good at 35,3 mil usd compared with an avg of 34,85 for 2013 (good since shipments have increased a lot in the same period.) It is also down from 45,6 mil in Q4 as expected. (but good they deliver on promices.)

- Interest of 9,1 mil per quarter and 2,5% of revenue indicates a healthy company.  (in pair with jks who had 2,4% of revenue in Q4) and on pair with other market leaders (tsl 1,7% in Q4 and CSIQ 1,9% in Q4 - way way better than say Yingli at 6,9% of revenue.)

 

[odyd]

I am not sure why the choice is to post details on a results under trading, but I suggest moving the  discussion to here.

$0.32 non GAAP and GAAP is $0.23. They beat it by the wide range. Sunny warned about the derivatives.