Trina Solar says second-quarter shipments to exceed its forecast
Aug 8 (Reuters) - Chinese solar panel maker Trina Solar Ltd said it expects shipments and gross margins in the second quarter to be higher than its earlier forecasts as the company expands into newer markets.
The company estimated that it shipped between 630 megawatts (MW) and 660 MW of solar panels in the quarter ended June, higher than its forecast of 500 MW-530 MW.
Trina Solar said gross margins were likely to be between 11 percent and 12 percent. In May, the company forecast gross margins in the middle single-digits in percentage terms.
The company said second-quarter revenue would be hurt by a $8.5 million to $9.5 million charge for assets not in use.
Trina Solar also said the revenue would be hit by an incremental accounts receivables provision of between $8 million and $9 million.
The company is scheduled to report second-quarter results on Aug. 20.
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