Hanwha Q CELLS Co., Ltd. ("Hanwha Q CELLS" or the "Company") (NASDAQ: HQCL), a global leading photovoltaic manufacturer of high-performance, high-quality solar modules, today (11/20) reported its unaudited financial results for the third quarter ended September 30, 2018. The Company will not be hosting a conference call to discuss these results.
Third Quarter 2018 Highlights
- Net revenues were $559.3 million, compared with $518.4 million in the second quarter of 2018 and $543.0 million in the third quarter of 2017.
- Gross margin was -6.3%, compared with 14.0% in the second quarter of 2018 and 11.6% in the third quarter of 2017. Excluding certain one-time effects, gross margin for the third quarter of 2018 was 13.0%.
- Operating loss was $107.0 million, compared with an operating income of $4.8 million in the second quarter of 2018 and operating income of $10.6 million in the third quarter of 2017. Excluding certain one-time effects, operating income for the third quarter of 2018 was $17.9 million.
- Net loss attributable to the Company's ordinary shareholders was $164.6 million, compared with net loss of $41.3 million in the second quarter of 2018 and net income of $5.0 million in the third quarter of 2017. Excluding certain one-time effects, net loss attributable to the Company's ordinary shareholders for the third quarter of 2018 was $39.7 million. Excluding these one-time effects as well as foreign exchange losses, net income attributable to Company's ordinary shareholders for the third quarter of 2018 was $2.7 million.
- Loss per fully diluted American Depositary Share ("ADS" and each ADS represents 50 of the Company's ordinary shares) was $1.98, compared with loss per fully diluted ADS of $0.50 in the second quarter of 2018 and income per fully diluted ADS of $0.06 in the third quarter of 2017. Excluding certain one-time effects, loss per fully diluted American Depositary Share for the third quarter of 2018 was $0.48. Excluding these one-time effects as well as foreign exchange losses, earnings per fully diluted American Depositary Share for the third quarter of 2018 was $0.03.
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