Trina Solar Limited, a large manufacturer in PV modules, solutions, and services, announced its unaudited financial results for the fourth quarter and fiscal year 2013. Although overall performance of 4Q13 decreased, the company still reached a higher outcome during the whole fiscal year of 2013.
Fourth Quarter 2013 Financial and Operating Highlights
- Solar module shipments were 770.1 MW during the fourth quarter of 2013, compared to 774.6 MW in the third quarter of 2013
- Net revenues were $525.6 million, a decrease of 4.1% from the third quarter of 2013
- Gross profit was $79.1 million, a decrease of 5.2% from the third quarter of 2013
- Gross margin was 15.1%, compared to 15.2% in the third quarter of 2013
- Cost of revenue was $446.5 million, a decrease of 4.0% from the third quarter of 2013
- Operating income was $14.1 million, an increase of 133.8% from the third quarter of 2013
- Operating margin was 2.7%, compared to 1.1% in the third quarter of 2013
- Net income was $9.6 million, a decrease of 3.5% from the third quarter of 2013
- Earnings per fully diluted American Depositary Share ("ADS" and each ADS represents 50 of the Company's ordinary shares) was $0.13, compared to $0.14 in the third quarter of 2013
Full Year 2013 Financial and Operating Highlights
- PV module shipments were approximately 2.58 GW, compared to 1.59 GW in 2012
- Total net revenues were $1.77 billion, an increase of 36.9% from 2012
- Gross profit was $218.2 million, an increase of 281.2% from 2012
- Gross margin was 12.3%, compared to 4.4% in 2012
- Operating loss was $43.8 million, a decrease of 83.5% from 2012
- Net loss for the full year was $77.9 million, a decrease of 70.8% from 2012
- Loss per fully diluted ADS for 2013 was $1.09, compared to a loss of $3.77 in 2012
