UPDATE: China Sunergy Reports Wider-Than-Expected Q2 Loss

China Sunergy Co Ltd (NASDAQ: CSUN) reported a wider-than-expected Q2 loss.

China Sunergy posted a quarterly net loss of $16.9 million, or $0.42 per American Depository Share (ADS), up from $13.8 million, or $0.33 per ADS, in the year-ago period. Its revenue climbed 22% to $144 million. However, analysts were expecting a loss of $0.18 per share on revenue of $165 million.

China Sunergy projects Q3 shipments in the range of 140 to 160 Megawatt (MW), versus 89.3 MW in the second quarter.

China Sunergy shares dropped 7.35% to close at $1.26 yesterday.