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
