In an announcement late yesterday, JA Solar Holdings (NASDAQ:JASO) cut its revenue estimate for the fourth quarter to $124 million, down from a range of $191.5-$220.9 billion. The company did not change its guidance on expected gross margin (5%-7%) and break-even non-GAAP earnings.
The company’s CEO pointed to a "dramatic slowdown in orders" recently,which he blamed on "macro economic conditions." He did say the companyexpects to make a profit in 2009. One has to wonder how it plans to dothat.
The stock is down 7% to $2.65 in pre-open trading this morning, 90% below its 52-week high.
Paul Ausick
December 11, 2008
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