ReneSola returns to profitability in first quarter

Chinese solar wafer maker ReneSola said Monday that it returned to profitability in the first quarter on the back of record solar product shipments.

ReneSola said it had net income of $11.8 million, or 7 cents per share, for the quarter ended March 31, after a net loss of $30 million, or 22 cents per share, in the year-ago period.

Revenue nearly doubled to $207 million in the quarter …