Quarterly and year-end reports for the solar industry continue a strong pace as Trina Solar Limited (NYSE: TSL) reported quarterly profits that beat analyst expectations.
The vertically integrated Chinese solar company reported net income more than tripled in 4Q07 to $15.7 million or $0.62 per share, compared to Q406, and revenue increased to $101.4 million from $38.8 million.
Analysts polled by Thomson Financial expected much smaller earnings of 49 cents per share on revenue of $95.6 million.
For the full year, Trina’s profit more than doubled to $34.9 million, or $1.47 per share, from $12.4 million, or $0.90 per share, in 2006. Revenue rose to $301.8 million from $114.5 million.
"We met or exceeded our annual 2007 targets for product shipment, revenue and net income, as the benefits of our fully integrated business model increased our bottom line," said Trina Solar’s Chairman and CEO, Jifan Gao. "During the quarter we have tripled our in-house cell production to meet our integrated capacity expansion targets and reached historical highs in our in-house cell and module efficiencies, which combined drove significant margin expansion. In 2008, we continue to focus efforts to lower our module manufacturing costs through constant improvements in cell efficiencies, wafer thickness reduction, and manufacturing process innovation as we increase our production capacity and execute on our technology roadmap."
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