Trina Solar Ltd (TSL) a provider of Photovoltaic or PV modules, Wednesday reported a wider loss for the first quarter reflecting a decrease in the ASP or average selling price of modules due to supply-demand imbalances. Loss per share was wider than analyst expectations.
For the period the firm reported net loss of $63.74 million, wider than prior-year net loss of $29.82 million. On a per ADS basis, loss for the period was $0.90 compared with a loss per ADS of $0.42 last year.
On average, 13 analysts polled by Thomson Reuters estimated loss per ADS of $0.72 for the quarter. Analysts estimates typically exclude one-time items.
Net revenue for the quarter slipped to $260.22 million from $349.88 million last year. Analysts were looking for revenue of $295.86 million.
Total shipments were 392.6 MW compared with 380 MW in the first quarter of 2012.
Looking forward, the firm said, during the second quarter, it expects to ship between 500 MW to 530 MW of PV modules. For the full year, it maintained its guidance of 2 GW to 2.1 GW for total PV module shipments.
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