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By Samuel R. Avro on Nov 26, 2008 with no responses

Yingli Green Energy 3Q Profit Falls 16 percent

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China-based solar cell maker Yingli Green Energy Holding Co. said Wednesday its third-quarter profit fell 16 percent due to foreign currency exchange losses and as operating expenses increased.

Net income dropped to 150.8 million Renminbi ($22.2 million), or 1.17 Renminbi per share (17 cents per share), from 179 million Renminbi, or 1.38 Renminbi per share, during the same quarter last year.

Excluding share-based compensation and amortization of intangible assets, Yingli Green Energy earned 175.3 million Renminbi ($25.8 million) during the third quarter, or 1.35 Renminbi per share (20 cents per share) compared with 196.5 million Renminbi, or 1.52 Renminbi per share, during the same quarter last year.