Daqo New Energy Revises Second Quarter 2011 Revenue Guidance
July 04 2011 - 8:00AM
Business Wire
Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the
"Company"), a leading polysilicon manufacturer based in China,
today revised its second quarter 2011 revenue guidance.
Due to the impact of price decline throughout the entire
photovoltaic (PV) supply chains in the second quarter of 2011, the
Company updates its revenue guidance for the second quarter of 2011
to the following:
For the second quarter of 2011, the Company expects
its total revenue to be in the range of $70 million to $71 million,
compared to a prior guidance of range of $92 million to $95
million. The Company expects to ship between 970 MT to 990 MT of
polysilicon in the second quarter of 2011. The Company also expects
to ship approximately 0.7 MW of wafer, 4 MW PV
modules under its own brand and sales of
approximately 8 MW PV modules outsourcing for its customers.
“We had experienced a substantial price decline in the second
quarter of 2011, and as a result, we are revising our revenue
guidance for the second quarter of 2011,” says Jimmy Lai, CFO of
the company. “The reduction in revenue guidance is mainly due to
the less shipment in the down-stream product, wafer and
module.”
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) is a leading polysilicon
manufacturer based in China that aims to become a vertically
integrated photovoltaic product manufacturer. Daqo New Energy
primarily manufactures and sells high-quality polysilicon to
photovoltaic product manufacturers. It also manufactures and sells
photovoltaic wafers and modules. For more information about Daqo
New Energy, please visit www.dqsolar.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will”, “expects”, “anticipates”, “future”, “intends”, “plans”,
“believes”, “estimates” and similar statements. Among other things,
the outlook for the second quarter of 2011 and quotations from
management in this announcement, as well as Daqo New Energy’s
strategic and operational plans, contain forward-looking
statements. The Company may also make written or oral
for-ward-looking statements in its reports filed or furnished to
the U.S. Securities and Exchange Commission, in its annual reports
to shareholders, in press releases and other written materials and
in oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about the Company’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: the demand for photovoltaic products and the development
of photovoltaic technologies; global supply and demand for
polysilicon; alternative technologies in cell manufacturing; our
ability to significantly expand our polysilicon production capacity
and output; the reduction in or elimination of government subsidies
and economic incentives for solar energy applications; and our
ability to successfully implement our vertical integration
strategy. Further information regarding these and other risks is
included in the reports or documents we filed with, or furnished
to, the Securities and Exchange Commission. Daqo New Energy does
not undertake any obligation to update any forward-looking
statement, except as required under applicable law. All information
provided in this press release and in the attachments is as of the
date of this press release, and Daqo New Energy undertakes no duty
to update such information, except as required under applicable
law.
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