China Sunergy Climbs In Pre-Market On Quarterly Results

(RTTNews) - Following the release of quarterly results, China Sunergy Co. Ltd. (CSUN | Quote | Chart | News | PowerRating) is showing strength during Friday's pre-market trading. At 8:08 am ET the stock is trading at $11.30 up $1.30 from Thursday's close.

With the advance, the stock stands to open above recent resistance and at its highest level in almost two months.

The company reported second-quarter net income of $3.06 million, compared to net loss of $3.8 million last year.

The company posted net earnings per ADS of $0.08, compared to net loss per ADS of $0.14 in the prior-year quarter.

Net income was $3.06 million, in comparison with net loss of $3.54 million in the same quarter a year earlier.

On average, three analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.03 per share.

Quarterly net sales grew to $111.64 million from $56.22 million in the comparable period a year ago. Three analysts had a consensus revenue estimate of $94.74 million.

For comments and feedback: contact editorial@rttnews.com Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index