Solarfun Power Profit Surges on Demand

The Chinese solar-power product maker's profit climbed to 66.4 million yuan ($9.1 million) from 29.5 million yuan a year earlier. Those increases equate to 0.28 yuan per American Depositary Share (38 cents) last quarter and 0.18 yuan per share (23 cents) a year earlier.

Its revenue surged to 987.8 million yuan ($135.4 million) from 244.7 yuan.

Solarfun shipped nearly three times as many solar modules in the quarter than in the prior year. Its average selling price and gross margins also increased from the third quarter.

Chief Executive Harold Hoskens called the fourth quarter the close of "an outstanding year" in which the company improved shipments, pricing and margins. He also noted higher expenses due to the company's infrastructure costs, initial public offering and other administrative fees. The company's stock began trading on the Nasdaq Stock Market in December 2006.

For the full year, Solarfun's profit rose 40 percent to 148 million yuan ($20.3 million) from 98.7 million yuan. That equates to 0.62 yuan per share (84.5 cents) in 2007, versus 0.75 yuan per share in 2006. The per-share difference reflects a 69 percent increase in the number of shares outstanding in 2007 versus 2006.