This morning, Solarfun Power (SOLF) reported second-quarter earnings of 1.62 a share (that's in renminbi, the Chinese currency) which is 0.13 better than Wall Street's forecast. Net income rose 285% and sales nearly tripled to 1.35 billion which beat the Street's forecast of 1.25 billion. For comparison, the 1.62 per share translates to 24 U.S. cents per share. I was also very happy to see the company raise its guidance for next year. Solarfun sees shipments rising 50% from 2008's levels.

Harold Hoskens, Solarfun's CEO said, "We are pleased with the progress achieved during the second quarter as we continued to see healthy demand and firm pricing. The tight supply and higher costs for polysilicon and wafers constrained both our top and bottom line growth, and our gross margins. This is a temporary situation with visibility improving on both measures during the second half of 2008, most notably during the fourth quarter. A number of important initiatives were completed following the close of the quarter which position us for continued growth going forward."

The stock is down a bit today, but some profit-taking is natural since the shares are up 50% in the last two weeks. We've see that the company's business is booming and the stock remains an outstanding buy.