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0.18%XLF 19.94 0.35%
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NEW YORK (AP) - China-based solar cell maker Yingli Green Energy Holding Co. Ltd. said Thursday its first-quarter profit increased nearly 20-fold on higher demand from western Europe and the U.S.
| YGE | 14.1 |  -0.31 |
Net income for the three months ended March 31 increased to $31.9 million from $1.2 million. Earnings per American depositary share were 25 cents, compared with a per-ADS loss of 36 cents a year ago, which reflects the redemption of preferred shares.
Excluding one-time charges for amortization and stock-based compensation, the company earned 27 cents per share in the recent quarter. Analysts polled by Thomson Financial expected, on average, earnings per share of 19 cents.
Revenue climbed to $227.5 million from $61.3 million. Analysts expected revenue of $210 million.
Shares rose 31 cents to $27.50 in premarket trading, after closing Wednesday at $27.19.
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