ReneSola swings to profit as costs fall

Tue Aug 12, 2014 6:22am EDT

Aug 12 (Reuters) - Chinese solar panel maker ReneSola Ltd swung to a profit in the second quarter, helped by lower costs.

Net income attributable to shareholders was $757,000, or 1 cent per American depositary share (ADS), compared with a loss of $21.1 million, or 24 cents per ADS, a year earlier.

Gross margin rose to 14.7 percent from 8 percent.

Revenue rose 2.6 percent to $387.1 million. (Reporting by Anannya Pramanick in Bangalore; Editing by Don Sebastian)