Solar module provider Hanwha Q Cells said on Thursday it posted $427 million in sales, $40 million in operating profits and $52 million in net profit in the third quarter of this year.
Its sales surged by 26.4 percent from the second quarter and its operating profits and net income also rose 9.4 percent and 12.3 percent each during the same period.
Although the solar module company didn't get of the red for four consecutive years until last year from 2011, it was back in the black after recording $1 million in operating profits in the second quarter. It was the first turning a profit since the merger between Hanwha Q Cells and Hanwha Solarone in February.
The operating profit in the third quarter also jumped 40 times to $40 million, a steep rise from the previous quarter.
The net income of $52 million in the third quarter also reflects sound turnaround based on the synergy effects of the merger.
Industry watchers cited successful restructuring after the merger as the reason for the rise. Also, the stabilization of assembly automation in China, Korea and Malaysia and continued process improvement led to the good performance.
The company is also ramping up efforts to strenthen its business in emerging markets including India apart from advanced nations such as the U.S. and Japan, by expanding its business network and global capacity.
The nation's two largest solar business companies Hanwha Q Cells and Hanwha Solarone were merged in Febraury with an aim of becoming the globally number one solar company.
