JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) released its latest quarterly earnings report today, missing both earnings and revenue estimates. The Chinese solar company swung to a profit as demand for solar energy equipment increased and raised its full year guidance.

JA Solar

Breaking down JA Solar’s earnings

JA Solar said profit was 40.1 million Chinese yuan ($6.5 million). That’s compared to a loss of 132.4 million yuan in the same quarter last year. The Chinese solar company reported profits of .59 yuan (10 cents) per American depository share, compared to last year’s losses of 3.58 yuan per share. Excluding items, JA Solar posted earnings of .87 yuan (14 cents) per American depository share, compared to losses of 3.58 yuan in the same quarter a year ago, reports The Wall Street Journal. The company’s revenue rose 53% year over year to 2.4 billion yuan ($390.5 million).

Analysts had been expecting earnings of 21 cents per share on $394 million in revenue for the quarter. JA Solar said higher demand in the U.S. and Japan drove its revenue increase, with North America making up 9% of the company’s revenue. China makes up 26% of JA Solar’s revenue, reports Bidness Etc, and the average selling price in the region fell quarter over quarter.

The company also saw a negative impact in the European Union where regulators placed a bottom on the import price of solar modules from Chinese manufacturers. Revenue from the European Union fell by .9%, as it dumped solar modules there at low prices.

JA Solar sees rise in shipments

The Chinese solar company reported a 47% increase in overall shipments, which rose to 681.8 megawatts. That was in line with the company’s previous guidance. Module shipments climbed 76% year over year to 445.8 megawatts. Solar cell shipments rose 12.5% to 236 megawatts in the quarter.

JA Solar expects to ship between 730 megawatts and 760 megawatts of total cells and modules in the current quarter. The company also increased its full year shipment guidance, now projecting between 2.9 gigawatts and 3.1 gigawatts in shipments. The previous guidance was between 2.7 gigawatts and 2.9 gigawatts.