Trina Solar Limited, a global enterprise in photovoltaic modules, solutions, and services, announced on November 24th its unaudited financial results for the third quarter of 2014. Despite foreign exchange fluctuations and weaker demand in Europe, Trina’s revenue and gross margin showed significant growth. Its total shipment also increased from 943.3MW in 2Q14 to 1063.8MW in 3Q14. “In the third quarter, we strengthened the competitive advantages of our module business with our efforts to reduce module manufacturing costs and our emphasis on technology breakthroughs generating positive results,” said Mr. Jifan Gao, Chairman and Chief Executive Officer of Trina Solar.
Third Quarter 2014 Financial and Operating Highlights
• Solar module shipments totaled 1,063.8 MW during the third quarter of 2014, compared to 943.3 MW in the second quarter of 2014, an increase of 12.8%
• Net revenues were $616.8 million, an increase of 18.8% from the second quarter of 2014
• Gross profit was $102.8 million, an increase of 28.1% from the second quarter of 2014
• Gross margin was 16.7%, compared to 15.4% in the second quarter of 2014
• Operating income was $35.6 million, an increase of 127.1% from the second quarter of 2014
• Operating margin was 5.8%, compared to 3.0% in the second quarter of 2014
• Net income was $10.6 million, an increase of 2.7% from the second quarter of 2014
• Net income excluding the unrealized loss or gain in foreign exchange would be $26.9 million, an increase of 217.2% from the second quarter of 2014
• Earnings per fully diluted American Depositary Share ("ADS)", each representing 50 of the Company's ordinary shares, was $0.14, the same as the second quarter of 2014. Excluding the unrealized loss or gain in foreign exchange, earnings per ADS would be $0.34, an increase of 189.7% from the second quarter of 2014
To view the full report, please go to: Trina Solar Announces Third Quarter 2014 Results