Trina Solar Announces Updates to First Quarter 2013 Guidance
CHANGZHOU, China, May 14, 2013
CHANGZHOU, China, May 14, 2013 /PRNewswire/ -- 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 March 31, 2013.
The Company estimates its solar module shipments in the first quarter of 2013
to be between 390 MW to 400 MW, compared to the Company's previous guidance of
420 MW to 430 MW. Additionally, for the first quarter of 2013, the Company
estimates that overall gross margin to be between 1.0% to 3.0%, in-line with
the Company's previous guidance of low single digits in percentage terms.
The Company further expects that its bottom line results in the first quarter
of 2013 be impacted by:
oAn accounts receivables provision reversal of between $10.5 million to
oA foreign currency exchange loss between $18.5 million to $19.5 million,
net of changes in fair value of derivative instruments.
The Company will confirm or revise its previous shipment guidance of between
2.0 to 2.1 GW for the full year 2013 during its first quarter 2013 earnings
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.
The Company will announce its first quarter 2013 results via conference call
at 8:00 a.m. ET on May 29, 2013. Conference call details may be found via
separate announcement, available at the Investors Center of the Company's
website at http://www.trinasolar.com.
About Trina Solar Limited
Trina Solar Limited (NYSE:TSL) is a global leader in photovoltaic modules,
solutions and services. Founded in 1997 as a PV system integrator, Trina Solar
today drives smart energy together with installers, distributors, utilities
and developers worldwide. The company's industry-shaping position is based on
innovation excellence, superior product quality, vertically integrated
capabilities and environmental stewardship. For more information, please visit
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, the
Company's ability to raise additional capital to finance the Company's
activities; the effectiveness, profitability and marketability of its
products; the future trading of the securities of the Company; the Company's
ability to operate as a public company; the period of time for which the
Company's current liquidity will enable the Company to fund its operations;
general economic and business conditions; demand in various markets for solar
products; 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 Company and the industry in which the Company
operates. The Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances, or 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, it cannot assure you that such expectations will turn out to
be correct, and the Company cautions investors that actual results may differ
materially from the anticipated results.
For further information, please contact:
Trina Solar Limited
Terry Wang, CFO
Phone: + (86) 10-6566-2256
Phone: + (86) 519-8548-2009 (Changzhou)
Kevin Zhang, Investor Relations
Phone: + (86) 519-8517-6093 (Changzhou)
SOURCE Trina Solar Limited
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