CHANGZHOU, China, Aug. 2, 2011
/PRNewswire via COMTEX/ --
Trina
Solar Limited (NYSE: TSL) ("Trina Solar" or the
"Company"), a leading integrated manufacturer of solar photovoltaic
products from the production of ingots, wafers and cells to the assembly of PV
modules, announced today the following updates to its previous guidance made
for the quarter endedJune 30, 2011.
Despite achieving record shipment
volumes in the second quarter, the Company estimates its solar module
shipments in the second quarter to be in the range of 395 MW to 397MW,
compared to the Company's previous guidance of 430 MW to 450 MW for the
reasons discussed below.
Additionally, for the second
quarter 2011, the Company estimates:
Gross margin relating to its
in-house wafer production and module production to be approximately 20%,
compared to the Company's previous guidance of in the mid
20s in percentage terms; and
Overall gross margin to be in the
range of 17.0% to 17.5%, compared to the Company's previous guidance of in
the low 20s in percentage terms.
"While
shipment volumes in the second quarter were our highest ever, sales were
adversely impacted by extended slower demand and high industry inventory due
in part to recently issued regulatory revisions and reduction in solar
subsidies in Italy," said Mr. Jifan Gao, Chairman and CEO of Trina Solar. "We
expect a significant improvement in production costs and an increase in
shipment volumes in the third quarter."
"As
market demand conditions improve, we see a significant increase in pipeline
from our distributors and large commercial and utility segment customers
across Europe and North America. We are in discussions with
new and existing customers to secure a growing number of sales agreements
that cover the second half of the year."
Based on its demand outlook for
the second half of 2011, the Company reiterates its expectation for its full
year 2011 PV module shipments of between 1.75 GW to 1.80 GW, representing an
increase of 65.6% to 70.3% from 2010.
As these selected estimated
results are subject to finalization of the Company's financial closing
procedures, the Company's actual results may differ from its current
estimates.
The
Company will review its second quarter 2011 results via conference call at 8:00
a.m. ET on August 23, 2011. Conference call details may be found
via separate announcement, available at the Investors Center of the company's
website at http://www.trinasolar.com .
About Trina Solar Limited
Trina
Solar Limited (NYSE: TSL) is a leading manufacturer of high quality modules
and has a long history as a solar PV pioneer since it was founded in 1997 as
a system installation company. Trina Solar is one of the few PV
manufacturers that have developed a vertically integrated business model from
the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly
of high quality modules. Trina Solar's
products provide reliable and environmentally-friendly electric power for a
growing variety of end-user applications worldwide. For further information,
please visit Trina Solar's website at http://www.trinasolar.com.
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