Trina Solar Announces First Quarter 2016 Results
Trina Solar Limited (NYSE: TSL) (“Trina Solar” or the “Company”), a global leader in photovoltaic (“PV”) modules, solutions, and services, today announced its unaudited financial results for the quarter ended March 31, 2016.
First Quarter 2016 Financial and Operating Highlights
- Total module shipments were 1,423.3 MW, consisting of 1,370.4 MW of external shipments and 52.9 MW of shipments to the Company’s own downstream power projects. Total module shipments decreased 19.9% sequentially and increased 38.7% year-over-year.
- Net revenues were $816.9 million, a decrease of 15.1% from the fourth quarter of 2015 and an increase of 46.4% from the first quarter of 2015.
- Gross profit was $139.7 million, a decrease of 23.8% from the fourth quarter of 2015 and an increase of 39.2% from the first quarter of 2015. …