Trina Q1 Posts Surprise Non-GAAP Profit

Trina Solar (TSL) shares are trading higher pre-market after the company reported an unexpected Q1 profit.

For the quarter, TSL posted revenue of $132.1 million, down 38.9% sequentially, up 9.5% year over year, and below the Street consensus of $142.5 million. The company posted an adjusted profit of 2 cents a share, well ahead of the Street, which expected a loss of 8 cents a share. The company said it sold 48 MW of solar capacity in the quarter, below its guidance of 50-55 MW. The company said gross margin in the quarter was 17.2%, above guidance of 15%-17%, and ahead of Q4 gross margin of 9.6%.

For Q2, the company expects to sell 60-65 MW, with gross margin of 18%-20%.

For the full year, Trina sees 350-400 MW of capacity, up 74%-99% from a year earlier.

This morning, TSL is up $1.40, to $24.02.

Comments

"Lowest ASP in the industry and highest Gross Margin in the Industry WOW !"

"Yes, ASP fo 2,7 USD/WATT. This is the way the achieve markt share."

Posted by Eric Savitz
barrons.com

Collins Stewart Maintains a 'Buy' on Trina Solar Ltd. (TSL); Raises Price Target

May 18, 2009 11:27 AM EDT

Collins Stewart maintains a 'Buy' on Trina Solar Ltd. (NYSE: TSL), raises price target from $11 to $22.

Collins analyst says, "A combination of factors drives the adjustment to our price target. Since we launched coverage, the prospect for China to become a significant consumer of solar modules has improved, as a limited solar subsidy program has been announced and more are expected in the months ahead. Valuations in the solar industry having risen in recent weeks, due in part to China's potential and in part to a general recovery in equity valuations. We also believe that TSL's orders have improved since late March. In the roughly two months since we launched coverage module ASP erosion is consist with our forecast, but polysilicon prices have decline somewhat faster than expected, which can potentially aid TSL margins by 3Q09."

Source: www.streetinsider.com

Trina Solar Expands European Sales and Marketing Team

CHANGZHOU, China, May 6 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (NYSE: TSL - News; "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, today announced that the Company has expanded its European sales and marketing team.

Due to the continued development of its business initiatives in Europe and the growing demand for Trina Solar's quality products in over 18 countries, the Company has expanded its Sales and Marketing team to better serve the established markets of Germany, Italy, France, and Spain, as well as the emerging markets such as the Czech Republic, Portugal, the Netherlands, Austria, and Greece. The Company is pleased to announce two new appointments, who joined the Company's strong sales team in April 2009.

Ben Hill, formerly at BP Solar, has joined Trina Solar as Director of Sales & Marketing for Europe. Mr. Hill is a well-known and respected industry leader with over 23 years of experience in the photovoltaic industry. Prior to joining Trina Solar, he spent over 10 years at BP Solar, serving in both Germany and Spain and in various senior positions including Sales & Marketing Director for Europe, Africa and the Middle East, and most recently, as a Regional Director for Europe. Prior to BP Solar, he served as a Division Manager for Battery Control, DC Lighting and Solar at Sollatek Ltd. Mr. Hill will manage Trina Solar's operations in Europe and will refine and implement the Company's ambitious regional growth plans.

Daniel Priem has joined Trina Solar as Central European Manager. Mr. Priem has over 10 years of experience in solar and other renewable energies. Prior to joining the Company, Mr. Priem spent over seven years at SunTechnics, a Conergy Group company, as a sales representative for Central Europe, manager of SunTechnics (Sydney), sales head for Southeast Asia and Australia, and finally as Conergy Group's commercial manager for Southern Europe. Mr. Priem also served as the business development manager for Innovative Windpower AG.

"We view Europe as an essential market region that includes key markets under current development," said Arturo Herrero, Trina Solar's Vice President of Sales & Marketing, who oversees Trina Solar's global sales and marketing. "We are delighted to strengthen our sales and marketing team with such talented and experienced personnel who bring years of regional and global knowledge and experience from well-known PV solar companies to our business."

About Trina Solar Limited

Trina Solar Limited (NYSE: TSL - News) 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 silicon 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 .