August 19, 2008
Trina Solar Reports Increase in Q2 Net Income
Trina Solar, an integrated manufacturer of solar photovoltaic products, has reported a net income of $17.1 million for the second quarter of 2008, compared to $7.4 million for the same period of 2007.
Trina Solar's net revenues in the second quarter of 2008 were $204.2 million, a 69.2% increase sequentially and 171.1% year-over-year.Net interest expense in the second quarter of 2008 was $5.1 million, compared to $1.1 million in the same period of 2007. Gross profit in the second quarter of 2008 was $47.4 million, a 52.4% increase sequentially and 233.3% year-over-year.
Jifan Gao, chairman and CEO of Trina Solar, said: "Over the last three reporting quarters we have either met or exceeded our aggressive goals for output, revenues, and operating margin. In the second quarter we continued to demonstrate the strength of our fully integrated business model as well as our ability to efficiently expand our manufacturing capacity, technology platform, and brand awareness as we penetrate new emerging solar markets."