China Sunergy (NASDAQ:CSUN) Q4 Loss Narrows Sharply, Total Shipment Beats High-End of Outlook


Solar module products manufacturer China Sunergy (NASDAQ:CSUN) reported Q4 2013 net loss attributable to ordinary shareholders of US$13.2 million, or US$0.89 per ADS, versus a net loss of US$70.5 million, or US$5.27 per ADS, a year earlier. On a non-GAAP basis, net loss was US$11.6 million, or US$0.78 per ADS, compared to last year’s non-GAAP loss of US$43.2 million, or US$3.23 per ADS.

Sales totaled US$125.5 million, up sharply from US$54.4 million, primarily due to higher shipments from both modules and cells. Total shipments for the quarter were 235.8MW, an increase of 109.2% from the prior quarter, primarily driven by robust demand from China.  CSUN was flat in pre-market trading on Friday and was up 5% Thursday after hours.

In Other News:

China Finance Online (NASDAQ:JRJC) reported Q4 revenue of $25.8 million, up 400% from $5.2 million recorded in the year ago quarter. Net income was $1.6 million, a swing from a loss of $4.9 million in Q4 a year ago.

Insurance brokerage firm Arthur J. Gallagher (AJG) has acquired Mike Henry Insurance Brokers Limited for an undisclosed amount.  Headquartered in Auckland, New Zealand, Mike Henry Insurance Brokers is an insurance broker and risk management services firm with annualized revenues of approximately $4.5 million.  AJG was flat in pre-market trading on Friday. It was up 0.6% Thursday after hours.

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