Editorial Summary

Jiangsu-based solar power products manufacturer Trina Solar Ltd (NYSE: TSL) reported first quarter net revenue of $120.7 million, up 183.6 percent year-on-year and 19 percent quarter-on-quarter, before market open on Friday. Solar module shipments were 29.49 MW, up 23.3 percent from the previous quarter and 180.3 percent from a year ago, with an average sales price of $3.95, compared to $3.94 last quarter and $3.80 last year. Trina has secured about 95 percent of its estimated silicon requirements for this year and has contracted approximately 95 percent of its annual module production target.

Trina booked net income of $12.9 million including a $4 million foreign currency exchange loss in the first quarter. Trina recorded net income of $15.7 million in the previous quarter and $4.8 million in the year-ago period.

Trina is targeting second quarter revenue between $169 million and $177 million and shipments of between 43 MW and 45 MW of PV modules. The company maintains full year revenue guidance between $770 million and $808 million with PV module shipments of between 200 MW and 210 MW.