Trina Solar Announces Third Quarter EPS of $1.08

Trina Solar Limited TSL announced eariler today its financial results for the third quarter ended September 30, 2010.

• Solar module shipments were approximately 291 MW, exceeding the Company's previous guidance of 250 MW to 260 MW, representing an increase of 30.4% sequentially and 137.0% year-over-year
• Net revenues were $508.3 million, an increase of 37.1% sequentially and 103.5% year-over-year
• Overall gross margin was 31.4%, above the Company's previous guidance of approximately 30%, compared to 32.1% in the second quarter of 2010 and 28.5% in the third quarter of 2009
• Gross margin was 37.6%, above the Company's previous guidance of mid 30s in percentage terms, relating to its in-house wafer production to module production
• Operating income and operating margin were $113.0 million and 22.2%, respectively, compared to $83.3 million and 22.5%, respectively, in the second quarter of 2010
• Net income was $82.9 million, which included a net foreign currency exchange loss of $8.3 million, compared to net income of $38.7 million in the second quarter of 2010
• Earnings per fully diluted ADS were $1.08, which included the impact of a net foreign currency exchange loss of $0.11 per fully diluted ADS, compared to $0.52 in the second quarter of 2010