Suntech Power 1Q Profit Nearly Doubles

[MSN Money] China’s Suntech Power Holdings Co. on Thursday posted an improved fiscal first-quarter profit, sparking a morning rally in its share price. The maker of photovoltaic cells for solar panels said earnings nearly doubled to $19.3 million from $10 million a year ago. Per-share profit rose a penny to 12 cents per share, as the number of outstanding shares grew to 156.2 million from 90 million a year earlier.

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