Tuesday, August 21, 2012 9:07:19 AM
Trina Solar misses by $0.47, misses on revs; sees Q3 shipments higher QoQ; lowers FY12 shipment guidance (TSL) 4.84 : Reports Q2 (Jun) loss of $1.30 per share, $0.47 worse than the Capital IQ Consensus Estimate of ($0.83); revenues fell 40.3% year/year to $346.1 mln vs the $383.91 mln consensus. Solar module shipments were ~419 MW for Q2, following the Company's revised guidance of 390 MW to 420 MW, representing an increase of 10.2% sequentially . Gross margin was 8.4% in Q2, following the co's revised guidance of 7.0% to 9.0%, compared to 5.8% in the first quarter of 2012 and 17.0% in 2Q11.
For Q3, the Company expects to ship between 450 MW to 480 MW of PV modules. The co believes its overall gross margin, taking into account wafer and cell quantities outsourced from third party suppliers to meet demand in excess of its internal capacity and other needs, for the third quarter will be middle-single digits in percentage terms. Such guidance is based on the exchange rate between the Euro and U.S. dollar as of August 21, 2012.
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