Trina Solar Reports Strong Q3 Revenues

Trina Solar, an integrated manufacturer of solar photovoltaic products, has reported net revenues of $82.6 million for the third quarter of 2007, a 9.7% increase sequentially and a 155.2% increase year-over-year.

Sales to customers in Germany accounted for 44% of total revenues in the third quarter, with Spain and Italy accounting for 37% and 15%, respectively, of total revenues.

Cost of revenues in the third quarter of 2007 was $66 million, an increase of 8% sequentially and 176.4% year-over-year due to the growth of the company’s solar module business. Cost of revenues in the third quarter of 2007 included approximately $15,000 of share-based compensation expenses.

Gross profit in the third quarter of 2007 was $16.6 million, an increase of 16.7% sequentially and 95.4% year-over-year. Gross margin was 20.1% in the third quarter of 2007, an increase from 18.9% in the second quarter of 2007 and a decrease from 26.2% in the third quarter of 2006.

Operating income in the third quarter of 2007 was $6.9 million, a decrease of 14.3% sequentially and an increase of 50.6% year-over-year. Operating margin was 8.4% in the third quarter of 2007, compared to 10.7% in the second quarter of 2007 and 14.2% in the third quarter of 2006.