Trina Solar Announces Updates to First Quarter 2011 Guidance
CHANGZHOU, China, May 10, 2011 /PRNewswire-Asia-FirstCall/ -- 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 ended March 31, 2011.
Due to impacts to module demand and order flow linked to Italy's solar regulatory revisions, the Company expects its solar module shipments in the first quarter to be in the range of 320 MW to 322 MW, compared to the Company's previous guidance of slightly higher than the approximately 351 MW shipped in the fourth quarter of 2010.
Additionally, for the first quarter 2011, the Company expects:
- Gross margin relating to its in-house wafer production and module production to be in the range of 32.0% to 32.5%, compared to the Company's previous guidance of approximately 30%.
- Overall gross margin, taking into account wafer and cell requirements outsourced to third party suppliers to meet demand in excess of the Company's internal capacity, to be in the range of 27% to 28%, compared to the Company's previous guidance of the mid to high 20s in percentage terms.
For the full year 2011, the Company reiterates its expectation for total 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 first quarter 2011 results via conference call at 8:00 a.m. ET on May 17, 2011. Conference call details may be found via separate announcement, available at the Investor's 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.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For further information, please contact:
Trina Solar Limited
Terry Wang, CFO
Caroline Jinqing Cai
Phone: + (86) 519-8548-2009 (Changzhou)
Phone: + (86) 10-6566-2256
Thomas Young, Senior Director of Investor Relations
Phone: + 1 (408) 459-6706 (San Jose)
Phone: + (86) 10-6566-2256
SOURCE Trina Solar Limited