Wednesday, November 10, 2010

JA Solar Holdings (Nasdaq:JASO) Adds Several More Supply Agreements

JA Solar Holdings (Nasdaq:JASO) added several more supply agreements, implying their recent strong third-quarter results have some sustainability to them.

Dr. Peng Fang, CEO of JA Solar, said, “Business momentum continues to be strong, with robust demand from existing and new customers across multiple geographies. Visibility of customer demand remains high and major client indications give us increased confidence in the prospect for 2011.”

Revenue for the quarter came in at $541 million, generating earnings of 47 cents a share.

Guidance for shipments was increased 1.35 gigawatts to 1.45 gigawatts.

Supply deals with multiple customers will go beyond 1.2 gigawatts in 2011, and prepayments have already come in for the agreements.

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