Solarfun reports results for third quarter of 2010

Silicon product manufacturer Solarfun Power Holdings has reported its unaudited financial results for the quarter ended 30 September 2010.

Total net revenues were $326.7m (£202.7m), up 24.7 per cent from the previous quarter and up 121.5 per cent year-over-year.

Gross profit in the third quarter increased 34.6 per cent quarter-over-quarter to $74.2m and increased 142.8 per cent from the same period a year ago.

Gross margin increased to 22.7 per cent compared with 21 per cent in the previous quarter.

Operating income increased 45.5 per cent quarter-over-quarter to $58.6m and increased 202.8 per cent year-over-year.

Operating margin improved to 17.9 per cent from 15.4 per cent in the second quarter of 2010.