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Daqo New Energy Q4 revenue $59.3 million, increase 27.3%

Staff writer |
Daqo New Energy Corp. announced its unaudited financial results for the fourth quarter and fiscal year of 2015.

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Q4 revenue was $59.3 million, an increase of 27.3% from revenue of $46.6 million in Q3 2015. Non-GAAP gross margin was 31.9% in Q4 2015, up from 23.4% in Q3 2015.

EBITDA(non-GAAP) was $23.4 million in Q4 2015, an increase of 56.3% from $15.0 million in Q3 2015. EBITDA margin (non-GAAP) was 39.5% in Q4 2015, compared to 32.1% in Q3 2015.

Net income attributable to Daqo New Energy shareholders was $9.6 million in Q4 2015, compared to $3.1 million in Q3 2015 and $3.6 million in Q4 2014. Earnings per basic ADS were $0.92 in Q4 2015, compared to $0.29 in Q3 2015, and $0.40 in Q4 2014.

Adjusted net income (non-GAAP) attributable to Daqo New Energy shareholders was $11.9 million in Q4 2015, compared to $6.3 million in Q3 2015 and $7.1 million in Q4 2014.

Adjusted earnings per basic ADS (non-GAAP) were $1.14, compared to $0.60 in Q3 2015, and $0.79 Q4 2014.

Full Year 2015

Revenue was $182.0 million in 2015, compared to $182.6 million in 2014. Non-GAAP gross margin was 26.5% in 2015, an decrease from 31.3% in 2014.

EBITDA(non-GAAP) was $ 58.2 million in 2015, an decrease of 2.9% from $60.0 million in 2014. EBITDA margin (non-GAAP) was 32.0% in 2015, compared to 32.9% in 2014.

Net income attributable to Daqo New Energy shareholders was $13.0 million in 2015, decreased from $16.6 million in 2014. Earnings per basic ADS were $1.26 in 2015, decreased from $2.02 in 2014.

Adjusted net income (non-GAAP) attributable to Daqo New Energy shareholders was $ 27.4 million in 2015, compared to $ 32.3 million in 2014.

Adjusted earnings per basic ADS (non-GAAP) were $2.65 in 2015, compared to $3.91 in 2014.


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