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Trina Solar’s net income doubles in Q2 2010

Trina Solar has reported a doubling in net income for the second quarter (Q2) 2010 to US$38.7 million, compared to US$18.6m in Q2 2009.

Net revenues jumped 147% to US$370.8m and operating income soared 348% to US$83.3m.

Trina Solar says the increase in revenues is largely down to increased brand recognition and the cuts in the German feed-in tariff this summer.

Jifan Gao, Chairman and CEO at Trina Solar, says: “We exceeded our previous guidance through both record shipment and volumes, and despite significant Euro currency pressures, a sequential improvement in gross margin.”

He adds: “We see increasingly evidence that strong demand for our PV products will extend well into 2011, and we are currently looking into how best to manage capacity expansion to capture increasing global market opportunities.”

Outlook 2010

For the full year, Trina Solar expects total solar PV module shipments to be 900-930 MW compared to earlier guidance of 750-800 MW.

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