Sat, Oct 05, 2013 - Page 13 News List

Neo Solar shares boosted 6 percent on strong revenue

By Camaron Kao  /  Staff reporter

Shares of the nation’s biggest solar cell maker Neo Solar Power Corp (新日光) rallied 6.04 percent to NT$31.6 yesterday after the firm reported its strongest monthly revenue in two-and-half years.

Revenue grew 7.81 percent to NT$2.27 billion (US$77.34 million) last month, compared with NT$2.11 billion in August, the company said in a statement released on Thursday. That was the ninth consecutive month of revenue gain, the company said.

“Strong demand has boosted shipments and revenue,” Neo Solar said in the statement.

The company also attributed the revenue growth to the synergy effect of acquiring local peer DelSolar Co (旺能光電).

Revenue last month more than doubled from NT$886 million year-on-year, according to the statement.

In the third quarter, revenue surged 57 percent to NT$6.39 billion, compared with NT$4.07 billion the previous quarter.

From January thorough last month, the company’s revenue rose 30.31 percent to NT$13.05 billion, from NT$10.02 billion in the same period of last year, Neo Solar said.

Solartech Energy Corp (昇陽光電) said its revenue increased 7.36 percent last month to NT$700 million, according to a company filing to the Taiwan Stock Exchange.

Solartech shares jumped 3.1 percent to NT$21.6 yesterday.

additional reporting by Lisa Wang

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