CHANGZHOU, China, Oct. 15 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar
Limited ("Trina Solar" or the "Company"), a leading integrated manufacturer of
photovoltaic products from the production of ingots, wafers and cells to the
assembly of PV modules, founded in 1997, today announced its selected
estimated unaudited financial results for the third quarter of 2008.
For the third quarter of 2008, the Company expects its net revenues to be
in the range of approximately $285 million to $294 million, exceeding its
previously forecasted range of $250 million to $265 million. The new range,
which includes non-module income, represents an approximately 40% to 44%
increase from its net revenues in the second quarter of 2008. During the
quarter, the Company shipped approximately 66 MW of PV modules, compared to
its previously forecasted range of 62 MW to 66 MW. As guided previously, the
Company's gross margin for the third quarter is expected to be in the range of
approximately 23.0% to 25.0%, and its operating margin is expected to be in
the range of approximately 15.0% to 17.0%.
"We are very pleased with our continued strong growth in the third quarter,
reflecting our increasingly recognized brand and strong sales distribution
capabilities in existing and new markets," said Mr. Jifan Gao, Trina Solar's
Chairman and CEO. "We expect to strengthen our operating cash flows over the
third and fourth quarters of 2008, which combined with the proceeds from our
senior convertible notes offering, will greatly enhance our cash position for
future operations."
As these selected estimated results are subject to the Company's normal,
quarter-end closing procedures, the Company's actual results may differ from
its current estimates.
Based on customer commitments in signed contracts and the Company's
current operating and market conditions, the Company believes it is on track
to meet or exceed its full year 2008 targeted total net revenues of between
$850 million and $900 million.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a well recognized 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 has 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,
Trina Solar's ability to raise additional capital to finance its 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 companies 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.
SOURCE Trina Solar Limited
