* Q3 EBIT loss 47.3 mln eur vs 42 mln eur forecast
* Still sees sales of 1 bln eur for 2011
* Still sees triple digit million EBIT loss in 2011
* Shares plunge in pre-market, down 25 pct
(Adds details, background)
By Christoph Steitz
FRANKFURT, Nov 14 Q-Cells said
its chief financial officer Marion Helmes resigned following a
wider-than-expected third-quarter operating loss as pricing
pressure and oversupply keep a tight grip on the solar sector.
The company said it posted a third-quarter operating loss of
47.3 million euros ($65 million), wider than the 42 million
average forecast in a Reuters poll, in what is considered the
worst year the industry has seen so far.
It added that CFO Helmes, who had joined the company in
mid-2010, had decided to resign at her own request by the end of
day on Monday.
Along with peers such Suntech, First Solar
and Yingli, Q-Cells, once the world's largest maker of
solar cells, has been hit by an industry crisis that has seen
prices for solar modules fall by 40 percent so far this year.
This led the company in October to take measures that could
delay the repayment of its convertible bond due on Feb. 28,
Q-Cells kept its 2011 outlook, still expecting a triple-
digit million euros loss before interest and tax (EBIT) and
sales of 1 billion euros this year, down more than a quarter
from 2010 levels.
($1 = 0.728 Euros)
(Editing by Hans-Juergen Peters)