Posting quarterly revenue that exceeded US$500 million for the first time was only one of Trina Solar’s highlights from releasing third quarter results. The PV manufacturer reported module shipments of approximately 291MW, exceeding the previous guidance of 250MW to 260 MW. Net revenues were $508.3 million, while gross margin was 31.4%. Jifan Gao, Chairman and CEO of Trina Solar said that the outlook for 2011 was increasingly positive as demand would outpace Trina’s planned capacity expansions in 2011.
“We continue to see strong demand momentum into the fourth quarter and the outlook for 2011 is increasingly positive; we expect that demand for our products will outpace our planned capacity expansion in 2011,” noted Gao. “Our expansion will allow us to increase sales in high growth PV markets such as the United States and Japan, while expand our presence and sales in Australia and other emerging solar markets. In parallel, our continued investments in localizing customer service and increasing service levels allow us to target higher value end-segments and high profile projects and to further differentiate our product offerings from other brands. We expect continuous gain in market share linked to our sales strategy and our emphasis on quality in our existing and new PV products and solutions.”
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Trina Solar noted that it’s annualized in-house production capacity of ingot and wafer as well as PV cell and module production capacity is expected to reach approximately 1.2GW and 1.7GW, respectively.
Based on continued strong demand, Trina Solar expects 2010 module shipments to reach approximately 1GW, up from previous guidance of between 900 MW to 930 MW.
However, despite high factory utilization rates and a virtual ‘sold-out’ situation in 2010, despite capacity additions, the PV manufacturer saw non-silicon manufacturing cost applicable to its in-house wafer production to module production of approximately $0.73 per watt, compared to $0.74 per watt in the previous quarter.
