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Other operating income was in the third quarter of 2016. were moderate in the third quarter, as we supplied modules to our own 281MWp Tranquility 8 utility-scale project in .
Operating margin was 6.3% in the third quarter of 2017, compared to 12.1% in the second quarter of 2017 and 4.1% in the third quarter of 2016. As a result, the average selling price of solar modules was sustained in the quarter. However, the pull-in effect appears to have driven the spot market solar module price higher globally and pushed low-price solar module demand into 2018. The cost of raw materials, such as high-purity polysilicon and aluminum extrusion products, increased significantly during the quarter.
In , with an aggregate 117 MWp of capacity to Foresight Solar Fund Limited ("FSFL").
FSFL is acquiring 49% interests in each of Longreach Solar Farm (17 MWp) and Oakey 1 Solar Farm (30 MWp), and a 100% interest in Oakey 2 Solar Farm (70 MWp).
Management's views and estimates are subject to change without notice.
The sequential and year-over-year increases were primarily due to higher shipping and handling costs, resulting from higher module shipment volumes and external sales commissions.Business Outlook The Company's business outlook is based on management's current views and estimates with respect to operating and market conditions, its current order book and the global financing environment.It is subject to uncertainties relating to final customer demand and solar project construction schedules.Total revenue for the fourth quarter of 2017, which includes revenue from both of our solar module sales and from our energy business, is expected to be in the range of , which is based on the best estimate of the transaction dates of certain utility-scale solar project sales, as discussed in previous sections.Revenue will be affected if some of the project sales slip to 2018.