(Adds details, shares)
May 8 China's JA Solar Holdings Co Ltd
posted a first-quarter profit, compared with a year-earlier
loss, driven by higher demand for its panels in Japan and
JA Solar's shares rose 6 percent in premarket trading.
The company said it expected shipments of between 670
megawatts (MW) and 700 MW in the current quarter ending June, up
from the 638.1 MW it shipped in the first quarter.
JA Solar had forecast shipments of 610 MW for the first
"Shipments to Japan increased sequentially, while demand in
Europe remained healthy ...," Chief Executive Baofang Jin said
in a statement.
The company posted a net profit of $13.7 million, or 23
cents per American depositary share (ADS), in the quarter ended
March 31, compared with a net loss of $33.3 million, or 85 cents
per ADS, a year earlier.
Revenue rose about 36 percent to $366 million.
JA Solar's shares were up 5.6 percent at $10.48 before the
bell on Thursday. The shares, which more than doubled in the
last one year, closed at $9.85 on the Nasdaq on Wednesday.
(Reporting By Sneha Banerjee in Bangalore; Editing by Sriraj