Solarfun leads Wednesday small-cap percentage losers

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Shares of Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF), a Chinese solar cell manufacturer, are down over 17% after the company before the start of trading today announced a plunge in quarterly revenue. The Shanghai-based company swung to a loss for the first quarter ended March 31 of $0.3 million, down from a $4.3 million profit in the same period of 2006. The company’s revenue nearly doubled to $24 million from $13.3 million a year earlier, but operating expenses soared to $3.7 million, up from $0.4 million in the 2006 period. Solarfun also announced it is lowering its 2007 revenue prediction to between $250 million and $279 million, down from its earlier forecast of $265 million to $285 million.

In midday trading, Powell Industries, Inc. (Nasdaq: POWL) shares are trading lower on the announcement before Wednesday’s opening that the electricity equipment company’s second-quarter revenue was $1.5 million lower than a year earlier. The Houston-based company announced a profit of $2.3 million, or $0.20 a share, for the second quarter ended April 30, down from $3.8 million, or $0.34 a share, in the year-ago period. The company also announced it is lowering its fiscal year earnings outlook to between $0.75 and $0.85 a share, down from earlier guidance of between $1.20 and $1.45 a share. CEO Thomas Powell attributed the lowered guidance to acquisition costs and the lowered earnings.

These are the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $500 million: