IMPROVEMENTS:With price declines moderating and shipments of higher-margin crystalline bricks rising, the solar wafer maker saw its net loss contract last quarter
Date: May 06, 2017
By: Lisa Wang / Staff reporter
Green Energy Technology Inc (綠能科技), the nation’s biggest solar wafer maker, yesterday posted its third straight quarterly loss as stagnant demand continued to be a drag on solar prices.
During the quarter ending March 31, Green Energy’s losses narrowed to NT$255 million (US$8.45 million) compared with a net loss of NT$591 million in the fourth quarter last year, according to the company’s latest financial statement.
The Taoyuan-based company, which posted a net profit of NT$372 million a year earlier, said more moderate price declines and higher shipments of better-margin crystalline bricks helped shrink its net loss last quarter, the statement said.
Gross margin improved to minus-10 percent last quarter from minus-12 percent the previous quarter, but deteriorated from 10 percent a year earlier, the statement showed. [FULL STORY]