Trina Solar Advances In Pre-Market On Higher Q2 EPS, Boosts FY08 Revenue Outlook

Trina Solar (TSL) climbed in pre-market trading, after the company reported a surge in second quarter profit and lifted its 2008 fiscal year revenue guidance.

The stock was up 90 cents just before 8:45 am ET, advancing to $31.88. If pre-market gains hold, the stock will open at its highest level since mid-July.

Trina Solar said that second-quarter net income was $17.10 million, up from $7.37 million in the second quarter of 2007. Earnings per fully-diluted ADS were $0.68, higher than $0.32 in the prior year quarter.

Total revenues increased to $204.17 million from $75.31 million in the year-ago quarter.

Analysts, on average, polled by First Call/Thomson Financial expected earnings of $0.81 per share on revenues of $197.60 million.

Total shipments in the second quarter of 2008 increased to 47.57 MW from 20.33 MW in the second quarter of 2007. Average sales price was $4.03 in the second quarter of 2008, compared to $3.70 a year-ago.

For the third quarter of 2008, the company expects to ship between 62 MW and 66 MW of PV modules and has expectations of total net revenues in the range of $250 million - $265 million.

For the full-year of 2008, the company now expects total net revenues to be in the range of $850 million - $900 million, up from previous guidance of $770 million - $808 million. Total PV module shipments is currently expected between 210 MW - 220 MW, higher than previous guidance of 200 MW to 210 MW.

Analysts, on average, expected revenue of $225.79 million for the third quarter and $795.54 million for the full-year.

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