Trina Solar Surges Most Since 2009 as Revenue Climbs 71%

Trina Solar Ltd. (TSL), China’s second-largest panel manufacturer, rose the most in more than five years after reporting sales that climbed 71 percent.

The company’s American depositary receipts, each worth 50 ordinary shares, climbed 31 percent to $13.56 at the close in New York, the most since since March 2009.

Trina reported net income of $26.5 million for the first quarter, or 37 cents an ADR, the Changzhou, China-based company said today in a statement. That’s a turnaround from a year-earlier loss of $63.7 million, or 90 cents. Sales increased to $444.8 million from $260.2 million.

This is Trina’s third straight profitable quarter as the solar industry rebounds from a two-year slump after a global oversupply drove down prices and margins. The company is the largest profitable Chinese photovoltaic producer. Yingli Green Energy Holding Co., the top supplier, is pursuing low-margin sales in its domestic market and doesn’t expect to post income until the second or third quarter.

“We have made further progress adjusting our sales mix to achieve relatively stable” prices, Chief Executive Officer Gao Jifan said in the statement. Shipments to regions such as Japan, where Trina gets higher prices, accounted for 30 percent of total exports.

Trina shipped 558 megawatts of panels in the quarter, at the middle of an April 11 forecast of between 540 megawatt and 570 megawatts. It expects to ship 950 megawatts to 1,010 megawatts in the current quarter and 3.6 gigawatts to 3.8 gigawatts this year.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Will Wade, Stephen Cunningham

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.