TSL earnings
NEW YORK, March 4 (Reuters) - Trina Solar Ltd (TSL.N: Quote, Profile, Research), a Chinese maker of solar power products, said on Tuesday its fourth-quarter profit more than tripled, spurred by increased shipments and strong revenue growth.
The company's shares rose over 9 percent to $35.59 in early New York Stock Exchange trading.
Net income rose to $15.7 million from $4.6 million a year earlier. Revenue rose more than 160 percent to $101.4 million.
The company said it has secured more than 80 percent of its estimated silicon requirements for 2008. It continues to be on target to meet its fully integrated capacity goal of 350 megawatts at end of 2008.
Also from briefing:
Trina Solar beats by $0.13, beats on revs; guides Q1 revs in-line; FY08 revs above consensus (TSL) 32.62 : Reports Q4 (Dec) earnings of $0.62 per share, $0.13 better than the First Call consensus of $0.49; revenues rose 161.6% year/year to $101.4 mln vs the $95.6 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $112-120 mln vs. $115.86 mln consensus. Co issues upside guidance for FY08, sees FY08 revs of $770-808 mln vs. $691.18 mln consensus. "The Company believes gross margin for the first quarter will likely be between 23% and 25% and estimates operating margin to range between 13.5% to 15.5% of total net revenues. The Company is expecting gross margin for the year between 23% and 25% and believes operating margin will likely be in the range of 15% to 17% of total net revenues.
It said it has already contracted about 90 percent of its targeted module production for 2008. (Reporting by Euan Rocha and Michael Erman; editing by John Wallace and Dave Zimmerman)
Hope to see good earning report for solf.
BofA cuts 4 Chinese solar companies - what was he smoking?
Feb 27 (Reuters) - Banc of America downgraded four Chinese
solar energy companies and cut its price target on the stocks,
saying the solar industry gross margins will continue to
contract due to competition for silicon, decelerating demand in
Spain and Germany, and higher supply of modules.
The rating and price-target changes:
Solarfun Power Holdings (SOLF.O: Quote, Profile, Research) Sell Neutral $12
$37
Yingli Green Energy Holding Co Ltd (YGE.N: Quote, Profile, Research) Neutral Buy $18
$40
Trina Solar Ltd (TSL.N: Quote, Profile, Research) Sell Buy $28
$44
JA Solar Holding Co (JASO.O: Quote, Profile, Research) Neutral Buy $17
$27
(Reporting by Swagata Gupta in Bangalore; Editing by Vinu
Pilakkott)
