Trina Solar’s Net Income in 2Q14 Decreased 61% from 1Q14

published: 2014-08-27 17:15 | editor: | category: News

Today, Trina Solar revealed its financial results of the second quarter of 2014. Although its solar module shipments increased 69.1% comparing to the previous quarter, the net income rapidly decreased 61.1% from US$26.5 million to US$10.3 million.

Second Quarter 2014 Financial and Operating Highlights

  • Solar module shipments were 943.3 MW during the second quarter of 2014, compared to 558.0 MW in the first quarter of 2014, an increase of 69.1%
  • Net revenues were $519.4 million, an increase of 16.8% from the first quarter of 2014
  • Cost of revenues was $439.2 million, an increase of 24.3% from the first quarter of 2014
  • Gross profit was $80.2 million, a decrease of 12.3% from the first quarter of 2014
  • Gross margin was 15.4%, compared to 20.6% in the first quarter of 2014
  • Operating income was $15.7 million, a decrease of 59.0% from the first quarter of 2014
  • Operating margin was 3.0%, compared to 8.6% in the first quarter of 2014
  • Net income was $10.3 million, a decrease of 61.1% from the first quarter of 2014
  • Earnings per fully diluted American Depositary Share (“ADS" and each ADS represents 50 of the Company's ordinary shares) was $0.14, compared to $0.37 in the first quarter of 2014

To read the full report, please visit: Trina Solar Announces Second Quarter 2014 Results

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