Trina Solar Announces Updates to Second Quarter 2013 Guidance
5:30a ET August 8, 2013 (PR NewsWire)
Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic (PV) modules, solutions and services, announced today the following updates to its previous guidance made for the quarter ended June 30, 2013.
The Company estimates its solar module shipments in the second quarter of 2013 to be between 630 MW and 660 MW, compared to the Company's previous guidance of 500 MW to 530 MW. Additionally, for the second quarter of 2013, the Company estimates overall gross margin to be between 11.0% and 12.0%, compared to the Company's previous guidance of middle single digits in percentage terms.
The Company further expects its bottom line results in the second quarter of 2013 to be impacted by:
-- An incremental accounts receivables provision of between $8.0 million and $9.0 million.
-- A charge between $8.5 million and $9.5 million for certain assets that were ceased to be used during the quarter.
The Company will confirm or revise its previous shipment guidance of between 2.0 GW and 2.1 GW for the full year 2013 during its second quarter 2013 earnings conference call.
As these selected estimated results are subject to the finalization of the Company's financial closing procedures, the Company's actual results may differ from its current estimates.