Boston, MA 08/26/2014 (wallstreetpr) – Trina Solar Limited (ADR) (NYSE:TSL) announced the unaudited financial results for the second quarter 2014. The net revenues rose 16.8% to come at $519.4 million sequentially. The net revenues rose by 17.9% year-over-year. The gross profit decline 12.3% from 1Q2014 to come at $80.2 million. The gross margin witnessed a contraction as it came at 15.4% comparable to 20.6% in the first quarter 2014.
The financial figures
Trina Solar Limited (ADR) (NYSE:TSL) posted operating income of $15.7 million, down 59.0% from the 1Q2014. The operating margin came much lower at 3.0% comparable to 8.6% in the first quarter 2014. Net income declined by 61.1% to come at $10.3 million on a sequential basis. Earnings per fully diluted ADS came at $0.14 as compared to $0.37 per share in 1Q2014. Trina reported the solar module shipments at 943.3 MW comparable to 558.0 MW in 1Q2014.
The management view
Mr. Jifan Gao, Chairman and CEO, said that the company utilized the commercial opportunities offered in the multiple markets. The quarter witnessed strong sequential shipment growth. It is reflective of strength in the core module business. The strong brand and the global sales network resulted in higher revenues. Trina Solar Limited (ADR) (NYSE:TSL) is focusing on the development of its downstream business.
The higher demand
Gao further added that the demand from the China and overseas markets in the core business has picked up. The demand of product offerings is on the rise from the end of long-term clients in the U.S. the focus in the next quarters will remain on the downstream business. Trina will not hesitate to invest wherever it will find the opportunity to enhance its performance. It has already started with the construction of a 90 MW power plant in Xinjiang province. The other distributed generation projects got completed well on time. In the month of August, Trina Solar Limited (ADR) (NYSE:TSL) went for acquisition of a new 49.9 MW project in the United Kingdom. The management of Trina is confident of maintaining a leadership position in the U.S.
Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer. We may be compensated for posting this content on our website by EDM Media LLC. For questions, comments or suggestions please contact email@example.com.