Suntech Power Holdings Co. Ltd (NYSE:STP) announced financial results for its second fiscal quarter ended June 30, 2011. Total net revenues were $830.7 million in the second quarter of 2011, representing a sequential decrease of 5.3%, and an increase of 32.9% year-over-year. Total PV shipments increased 2% sequentially, and increased 48% year-over-year. GAAP gross profit margin was 4.1% in the second quarter of 2011. Excluding a $91.9 million charge related to the MEMC settlement, non-GAAP gross margin was 15.1% in the second quarter of 2011.
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