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Neo Solar Power lost NT$5.15 per share in first half of 2009.

Taipei, Sept. 1, 2009 (CENS) -- Thanks to the downward trend for the solar-energy sector globally, Neo Solar Power Corp. (NSP), one of Taiwan's leading manufacturers of solar cells, encountered an operating loss of NT$580 million (US$17.62 million at US$1:NT$32.9), or NT$5.15 (US$0.15) per share, in the first half of this year.

Affected by the global financial tsunami and the poor performance of the world's solar-energy sector, domestic manufacturers in this line encountered a dim performance in the first half of this year. Under the pressure of high production costs caused by the high-price raw materials, domestic solar-energy firms saw an expansion in operating losses in the second quarter of this year.

In addition to NSP, others like Gintech Energy Corp. and E-Ton Solar Co. will also see expansion in operating losses in the second quarter.

NSP encountered after-tax operating loss of NT$399 million (US$12.12 million), or NT$2.48 (US$0.075) per share, on sales of NT$2.085 billion (US$63.37 million) in the second quarter of this year. The company made after-tax loss of NT$823 million (US$25.01 million), or NT$5.15 (US$0.15) per share, on cumulative sales of NT$3.817 billion (US$116.02 million) in the first half of this year.

With monthly sales returning to a normal level of NT$1 billion (US$30.39 million) in July, NSP believed it would be able to see continued sales growth in the months to come. The company boasted it is enjoying growth in demand for solar cells in the markets of Germany and Italy.

Sino-American Silicon Products Inc., a leading manufacturer of silicon wafers for the solar-energy sector, said it posted NT$130 million (US$3.95 million) in after-tax earnings, or NT$0.51 (US$0.015) per share, on sales of NT$4.688 billion (US$142.49 million) in the first half of this year.

The company said it has seen price recovery for its major products since the middle of June. To meet increased demand for its products, the company is now expanding production capacity.

With a full loading in production capacity, Sino-American Silicon has recently restarted a plant expansion project in Chunan of Miaoli County, northern Taiwan. The company estimated the plant expansion project will help it raise annual production capacity to 400MW by the end of this year, compared with the present 280 MW.
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Title Annotation:Neo Solar Power Corp.
Publication:The Taiwan Economic News
Geographic Code:9TAIW
Date:Sep 1, 2009
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