Trina Solar Announces Updates to Second Quarter 2013 Guidance
CHANGZHOU, China, Aug. 8, 2013
CHANGZHOU, China, Aug. 8, 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 endedJune 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:
oAn incremental accounts receivables provision of between $8.0 million and
oA 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.
The Company will announce its second quarter 2013 results via a conference
call at8:00 a.m. US ETon August 20, 2013. Details of the conference call can
be found in a separate announcement available at the Investor Relations Center
on the Company's website 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 Brunswick Group
Terry Wang, CFO Ilse Schache
Phone: + (86) 519-8548-2008 (Changzhou) Phone: + (86) 10-6566-2256
Kevin Zhang, Investor Relations
Phone: + (86) 519-8517-6093 (Changzhou)
SOURCE Trina Solar Limited
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