UPDATE: ReneSola Reports Drop In Quarterly Profit, Withdraws Full-Year Forecast

ReneSola Ltd SOL released its quarterly results and withdrew its full-year projections. The company also issued downbeat Q3 revenue projections. For April-June, ReneSola's net profit attributable to common shareholders dipped 95% to $1.8 million, or $0.02 per ADS. Its revenue dropped 2% to $249.3 million. ReneSola projects Q3 revenue of $220 to $240 million, versus analysts' estimates of $264.6 million. ReneSola shares dropped 3.26% to $2.67 in pre-market trading.