Aug 2, 2011
Shares of Trina Solar Ltd.(NYSE:TSL) fell over 6% Tuesday in premarket trading after the company lowered its expectation for shipments of solar modules and profit margins in the second quarter.
Trina, a Chinese solar module maker, reported that it expects to report module shipments in the range of 395 to 397 megawatts for the three month period ended June 30. The company formerly said it would ship between 430 and 450 megawatts. Overall profit margins also were lowered to between 17 and 17.5%, compared with earlier forecasts of margin percentages in the "low 20s."
Company officials said shipments and profit margins suffered as demand for solar modules slowed down, in part because Italy cut solar subsidies.
Chairman and CEO Jifan Gao said, "We expect a significant improvement in production costs and an increase in shipment volumes in the third quarter."
Trina retained its prediction for 2011 shipments between 1.75 and 1.8 gigawatts. That's a rise of 65.6 to 70.3% from last year. The company will report its second-quarter results on Aug. 23.
Oil & Gas Post
Promote Your Page Too
No comments:
Post a Comment