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Article: Suntech Reports First Quarter 2009 Financial Results.
- Article from:
- PR Newswire
- Article date:
- May 21, 2009
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SAN FRANCISCO and WUXI, China, May 21 /PRNewswire-Asia/ -- Suntech Power Holdings Co., Ltd. , the world's largest crystalline silicon photovoltaic (PV) module manufacturer, today announced financial results for its first fiscal quarter ended March 31, 2009.
First Quarter 2009 Highlights
-- Total net revenues were $315.7 million in the first quarter of 2009
-- Gross margin improved to 17.8% for the first quarter of 2009, compared
with 0.6% for the fourth quarter of 2008.
-- Operating expenses were reduced by 24% to $35.1 million in the first
quarter of 2009 from $46.2 million in the fourth quarter of 2008.
-- Net income attributable to holders ...