May 23 China-based Trina Solar Ltd
posted a quarterly loss on a drop in solar module prices but
forecast higher shipments and margins for the second quarter as
it looks to reduce its manufacturing costs.
Lower subsidies in Europe, the key solar market, hurt demand
for solar modules last year, leading to a 50 percent fall in
Trina Solar, one of China's largest solar equipment makers,
expects to ship 500 megawatt (MW) to 520 MW modules in the
second quarter, higher than its first-quarter shipments of 380
MW. It expects shipments of 2-2.1 gigawatt (GW) in this year,
versus 1.51 GW last year.
Trina forecast second-quarter gross margin, including the
impact of provisions for potential countervailing and
anti-dumping duties, of about 10 percent. By that measure,
margins were 5.8 percent in the first quarter.
The U.S. Commerce Department set punitive tariffs of around
30 percent last Thursday after ruling in favor of the local
firms that said Chinese exporters were dumping cut-price panels
on their market.
Trina Solar said it expects a sequential reduction in
manufacturing costs in the second quarter after it renegotiates
a chunk of its long-term silicon supply agreements.
First-quarter net loss was $29.8 million, or 42 cents per
American Depositary share (ADS), compared with an income of
$47.7 million, or 63 cents per ADS, in the year-ago quarter.
Revenue fell 37 percent to $349.9 million.
Trina Solar shares, which have plummeted 76 percent in the
last year, closed at $5.33 on Tuesday on the New York Stock