(RTTNews) - ReneSola Ltd. (SOL) is showing weakness during pre-market trading on Tuesday following the release of quarterly results. At 8:49 am ET the stock is trading at $17.20 down $0.81 from Monday's close.
With the decline, the stock stands to open having reversed some recent gains.
The company reported second quarter net income of $23.3 million, or $0.19 per share, up from $5.9 million, or $0.06 per share, in the year-ago period.
Earnings per ADS for the period were $0.38, up from $0.12 in last year quarter.
Quarterly revenues grew to $173 million from $44.4 million last year.
Looking forward, for the full-year 2008, the company said it expects net revenues in the range of $640 to $670 million from its previously forecast in the range of $570 to $590 million.
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