Gintech Energy so far had the highest net EPS among Taiwan's solar cell makers, reaching NT$10.35 (US$0.34) for the first three quarters of 2010. Photovoltaic (PV) conductive paste maker Giga Solar Materials has reported an EPS of NT$23.94 for the same period, the highest among Taiwan's solar-theme stocks. In the third quarter, both companies saw their net profits grow at a double-digit rate sequentially.

Gintech has announced third-quarter net profits grew about 29% on quarter to NT$1.29 billion, bringing total profits for the first three quarters of 2010 to NT$3.33 billion. The translated EPS for the first three quarters came above market watcher estimates of NT$9-10.

Gintech said it has ramped up manufacturing capacity to 930MWp in October, almost two months ahead of schedule. Gintech expects its shipments to expand and fulfill a ramp-up in orders.

Gintech noted it remains optimistic about the market outlook for 2011. The company also reiterated that its previous remarks about weak demand between December and early 2011 were in light of seasonal effects, adding that traditionally the solar industry sinks in to an off-season mode during the period.

Giga Solar posted net profits of NT$360 million in the third quarter, up from NT$206 million in the second. Accumulated net profits for the first three quarters totaled NT$728 million.

Giga Solar is scheduled to list on Taiwan's over-the-counter (OTC) stock market at NT$500 per share on November 18.