Sept. 11, 2013 - Daqo New Energy today announced its unaudited financial results for the second quarter of 2013.

Polysilicon shipments were approximately 975 metric tons, or MT. Wafer shipments were 7.1 million pieces. We also shipped 41 MT of multi-crystal silicon blocks to our customers.

Revenues were $27.8 million, compared to $14.5 million in the first quarter of 2013 and $27.6 million in the second quarter of 2012.

Gross loss was $10.2 million, compared to $12.9 million in the first quarter of 2013 and $5.7 million in the second quarter of 2012.

Gross margin was negative 36.7%, compared to negative 89.0% in the first quarter of 2013 and negative 20.7% in the second quarter of 2012.

Operating loss was $174.9 million, compared to $16.6 million in the first quarter of 2013 and $6.2 million in the second quarter of 2012. Excluding $158.4 million of fixed assets impairment loss for Wanzhou polysilicon facilities, the non-GAAP operating loss in the second quarter of 2013 was $16.5 million.

Net loss attributable to Daqo New Energy Corp. shareholders was $34.0 million, compared to$18.7 million in the first quarter of 2013 and $7.1 million in the second quarter of 2012.

Earnings per fully diluted ADS were negative $4.91, compared to negative $2.70 in the first quarter of 2013, and negative $1.01 in the second quarter of 2012.