Trina Solar beats by $0.14, beats on revs

Reports Q4 (Dec) earnings of $0.74 per share, $0.14 better than the First Call consensus of $0.60; revenues rose 44.8% year/year to $313.3 mln vs the $283.5 mln consensus. For the first quarter of 2010, the co expects to ship between 180 MW to 190 MW of PV modules. The co believes gross margin for the first quarter will likely be between 26% and 28%. For the full year of 2010, the co expects total PV module shipments between 750 MW to 800 MW, representing an increase of 88% to 100% from 2009. Q4 Gross margin was 32.6%, above the co's guidance of 25% to 27%, compared to 28.5% sequentially and 9.6% year-over-year. The YoY increase in gross margin was primarily due to the co's favorable reduction of its silicon purchase price and non-silicon manufacturing costs relative to module ASP decline. The co continued its focused efforts to reduce its manufacturing cost per watt through ongoing efficiency gains linked to its lean manufacturing initiatives and improved supply chain mgmt. The co achieved additional yield enhancements in our manufacturing techniques involving proprietary processes for our ingot, wafer, cell and module manufacturing, and higher cell conversion efficiencies. Net margin was 15.7% in the fourth quarter of 2009, compared to 16.1% in 3Q09 and negative 0.3% in 4Q08. Q4 Total shipments were 163.7 MW, compared to the co's previous guidance of 145 MW to 165 MW, versus 122.6 MW in 3Q09 and 57.6 MW in 4Q08. The sequential increase in total shipments was primarily due to increased demand in European markets, due, in part, to improved PV system purchase financing conditions in major European markets and increased year-end demand to install new PV systems ahead of annual feed-in tariff adjustments in January in established PV markets including Germany and Italy.

Trina Solar Announces New Technology to Boost Conversion Efficiency with Square Monocrystalline Cell

Trina Solar Limited (TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced it achieved a breakthrough in its development of monocrystalline cell technology.
As part of the Company's ongoing research and development strategy, Trina Solar has developed a square monocrystalline cell with enhanced power output using its proprietary improved cell manufacturing process. Using specially designed metallization and passivation techniques, the advanced cell structure is expected to significantly boost cell conversion efficiency, achieving up to 18.8% efficiency in test laboratory production. In addition, this technology is expected to improve module output due to increased light absorbing surface area of the square shaped cell.
"We are excited to announce this breakthrough in monocrystalline cell efficiency, which demonstrates the competence of our R&D team and the centrality of product development at Trina Solar," said Jifan Gao, Trina Solar's Chairman and CEO. "Trina Solar will continue to advance its extensive R&D program, aiming to develop solar cell conversion efficiencies of more than 20% over the coming two years."

Trina Solar Announces Sales Agreement with AE Photonics in Germany

CHANGZHOU, China, Feb. 4 /PRNewswire-Asia-FirstCall/ -- Trina Solar Limited (TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced it has entered into an agreement with AE Photonics ("AE Photonics GmbH") of Germany for 40 MW of PV modules to be delivered during 2010.

Under the terms of the agreement a total of 20 MW will be shipped during the first half of 2010 with agreed prices for the first quarter. Initial shipments commenced in January 2010.

"We are excited to announce this sales agreement with AE Photonics, a partner that shares our commitment to superior value, and customer satisfaction," said Ben Hill, Trina Solar's Vice President of Sales and Marketing in Europe. "This reflects the continued strong demand and representation for our best-in-class solar products in major solar markets worldwide."

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 its foundation 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 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 .

About AE Photonics

AE Photonics GmbH & Co. KG is a well-established supplier of photovoltaic systems and photovoltaic components in Germany and Europe. The Company attaches great importance to the quality of its products and delivery of its services to customers and business partners. For further information, please visit AE Photonics' website http://www.ae-photonics.com .