On Friday, China Sunergy Co Ltd (NASDAQ:CSUN)’s shares inclined 18.79% to $1.96.
China Sunergy Co Ltd (CSUN) declared its financial results for the fourth quarter and full year ended December 31, 2014.
Mr. Tingxiu Lu, CEO of China Sunergy, commented, “I am happy with the Company’s sharp turnaround in the fourth quarter. During the fourth quarter, we were able to enhance module sales to China, improve manufacturing efficiency, and lower conversion cost, which combined to expand our gross margin by 790 basis points quarter-over-quarter.
Fourth Quarter 2014 Financial Highlights
Total revenue was US$126.7 million, an enhance of 100.2% from US$63.3 million in the third quarter of 2014. Self-branded revenue totaled US$118.4 million and OEM revenue was US$7.4 million.
Shipments totaled 305.4MW, an enhance of 121.6% (167.6MW) from 137.8MW in the third quarter of 2014. Module shipments counting 61.5MW module processed under OEM arrangements were 218.9 MW. Cell shipments counting 3.3MW cell processed under OEM arrangements were 86.5MW.
verage selling price (“ASP”) for the Company’s solar modules, not taking into account those processed under OEM arrangements, was US$0.59 per watt, a decrease of 6.3% from US$0.63 in the third quarter of 2014.
Gross profit was US$5.2 million, and gross margin was 4.1%, contrast with gross loss of US$2.4 million and gross margin of negative 3.8% in the third quarter of 2014.
Net loss attributable to ordinary shareholders was US$10.0million, contrast with 25.6 million in the third quarter 2014.
Net loss attributable to ordinary shareholders per ADS was US$0.67, contrast with US$1.73 in the third quarter of 2014.
China Sunergy Co., Ltd., together with its auxiliaries, designs, develops, manufactures, and markets solar cells and modules in the Peoples Republic of China and internationally. It offers monocrystalline and multicrystalline silicon solar cells; and standard P-type solar cells and HP solar cells, in addition to emitter cells for use in a range of residential, commercial, industrial, and other solar power generation systems. The company also invests in, develops, and operates solar power projects. It sells its products to system integrators, solar power project developers, and solar power product distributors.
USG Corporation (NYSE:USG)’s shares dropped -1.45% to $27.28.
USG Corporation (USG) collaborating with Tremco Commercial Sealants & Waterproofing (CS&W) recently unveiled Securock® ExoAir® 430 System – a new advancement in air barrier installation to the construction industry. The integration of two already proven products – USG Securock® Brand Glass-Mat Sheathing Panels and Tremco’s ExoAir® membrane – will bring a system with built-in performance to the market.
In a controlled environment, the air/water barrier coating is applied to a glass-mat faced, moisture and mold-resistant gypsum sheathing panel. This process results in a uniform membrane with superior bond to the substrate. The system, comprised of the panel and detailing components, simplifies the installation process and eliminates many traditional application challenges like weather impact, material waste and performance variances, while improving jobsite scheduling concerns. Progressive Engineering Inc. and Underwriters Laboratory have accredited Securock ExoAir 430 System for code compliance and fire resistance performance.
USG Corporation, through its auxiliaries, operates as a manufacturer and distributor of building materials worldwide. Its Gypsum segment provides gypsum and related products that are used to construct walls, ceilings, roofs, and floors of residential, commercial, and institutional buildings, in addition to in various industrial applications. It provides gypsum panels; and a line of joint compounds, corner beads, and tape that are used for finishing wallboard joints under SHEETROCK brand.
At the end of Friday’s trade, Kansas City Southern (NYSE:KSU)‘s shares dipped -0.64% to $94.15.
Kansas City Southern (KSU) declared it reached a contract with Sasol Chemicals USA LLC for the construction and long-term lease of a storage-in-transit rail yard to support the Houston-based company’s new ethane cracker and derivative project in Lake Charles, La. Kansas City Southern Railway Co. also will replace and expand its existing rail car classification yard in Mossville, La., a release from the company said.
In a release, Mike Thomas, senior vice president of U.S. operations for Sasol, said Kansas City Southern has worked with Sasol Ltd. (NYSE: SSL) for decades and the company is happy to extend the relationship with the railway company as it enhances its output at the Lake Charles facility.
Kansas City Southern, through its auxiliaries, engages in the freight rail transportation business. It operates north/south rail route between Kansas City, Missouri, and various ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi, and Texas in the midwest and southeast regions of the United States.
Nielsen NV (NYSE:NLSN), ended its Friday’s trading session with -0.27% loss, and closed at $44.94.
Nielsen NV (NLSN) intends to offer for sale in an underwritten secondary offering 8,957,091 shares of its common stock following the Company’s shelf registration statement filed with the Securities and Exchange Commission. The shares to be sold by the Selling Shareholder are attributable to associates of The Blackstone Group and The Carlyle Group. The last stated sale price of the Company’s common stock on June 9, 2015 was $44.51 per share.
Goldman, Sachs & Co. will act as underwriter for the offering.
Nielsen N.V. operates as an information and measurement company. The company provides media and marketing information, analytics, and manufacturer and retailer expertise about what and where consumers buy, read, watch and listen. Its Buy segment provides data on retail measurement services, such as market share and competitive sales volumes; insights into distribution, pricing, merchandising, and promotion; consumer panel measurement, which offers insight into shopper behavior and customer segmentation; and consumer intelligence and analytical services for decision making in development and marketing cycles.
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