JA Solar First Quarter Results Deliver, Margins Lower

China based JA Solar Holdings announced this week the company’s first quarter results. The company recorded revenue of $556 million during the first quarter, a 91.2% increase year on year.

Gross profit for the first quarter was $96.3 million. However, gross margins dropped to 17.3% compared with 19.2% in the fourth quarter of 2010 and 23% in the first quarter of 2010.

In an announcement by the company, CEO, Dr. Peng Fang noted that first quarter shipments were “slightly below” estimates due to factory shutdowns during the Chinese New Year holiday.

Dr. Feng did note that JA Solar is excited about the US market and its growing stable of US-focused partnerships including the company’s solar cell joint venture with MEMC.

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