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Krasimir Yordanov

 
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  • Trina Solar Q2 Preview: Weaker Gross Margin Q-O-Q In The Absence Of Project Sales [View article]
    Shipping costs of JASO were higher q-o-q on 'per revenues' terms due to (as the management explained) the timing difference btw recognition of slaes and associated shipping expense. Look at the 49-50-51th paragraphs here:

    http://bit.ly/1lnHvng

    So this increase in shipping expenses should not be associated to the overall market out there and the other companies in the industry.
    Aug 23 05:17 AM | Likes Like |Link to Comment
  • Trina Solar Q2 Preview: Weaker Gross Margin Q-O-Q In The Absence Of Project Sales [View article]
    Yeah... you have a strong point.

    On a net basis, do you model tax expenses or you put tax benefits for Q2?
    Aug 21 01:24 PM | Likes Like |Link to Comment
  • Trina Solar Q2 Preview: Weaker Gross Margin Q-O-Q In The Absence Of Project Sales [View article]
    Why should I include the eur? Presently the eur exposure of TSL is not that high compared to the years when Germany and Italy were the main drivers of the World PV demand.
    Aug 20 06:20 PM | Likes Like |Link to Comment
  • Trina Solar Q2 Preview: Weaker Gross Margin Q-O-Q In The Absence Of Project Sales [View article]
    Well... for Q2 I model $0.15-0.17 per fully deluted ADS (do no count the extra shares that TSL issued in the beginning of June). For 2015 I put 650 MW in projects sold and third party shipments of 3100 MW. My calculations point to $1.5 per diluted ADS. But I think that the timing of the downstream business revenues depend mostly on the YieldCo story: If, When, How..
    Aug 19 11:51 AM | Likes Like |Link to Comment
  • Trina Solar Q2 Preview: Weaker Gross Margin Q-O-Q In The Absence Of Project Sales [View article]
    If you subtract the 150 MW and the 170 MW from 950 and 1010, respectively, you will get the 800-840 MW third-party shipments range. Only the latter will be included in revenues and the shipments of 150-170 to the company's downstream PV projects will not be recognized as revenues until the projects themselves are sold or connected to the grid and generate electricity revenues.
    Aug 19 09:25 AM | 1 Like Like |Link to Comment
  • Why First Solar Should Continue Beating The Market [View article]
    mapodga, good point!

    FSLR has changed how it posts the component (module only) and the system business on its accounting statements. I the past they viewed the module business as the key driver to profitability and the system business only as the enabler the module business to grow. Thus the system business always went break-even.

    I think from around two years now, both the system business and the component business, are viewed by the management as contributors to the company's profitability. As long as the revenue recognition of the system business is very volatile, especially on a quarterly basis, FSLR would continue to have ups and downs on its quarterly top and bottom lines. That is why FSLR stopped giving quarterly guidance.

    Investors should look at its book-to-bill ratio of the project business and the advances in module efficiency as the latter is crucial for the company's competitiveness and further lowering the costs on a per watt basis.
    Aug 17 06:21 AM | 3 Likes Like |Link to Comment
  • What Does The Fiscal Cliff Mean For U.S. Corporate Profits? 1 Graph Tells Everything [View article]
    aarc, thank you for the comment.

    The “global component” of profits is captured by “foreign saving” in the equation since the latter is actually the current account. Profits payments form and to the RoW are included as part of the current account.

    NIPA data shows that now profits from the RoW are around 30% from total profits.
    Dec 13 06:39 AM | Likes Like |Link to Comment
  • What Does The Fiscal Cliff Mean For U.S. Corporate Profits? 1 Graph Tells Everything [View article]
    Of course. Macro is crucial for investor's portfolio performance.
    Dec 12 02:16 PM | 1 Like Like |Link to Comment
  • Insights On The Solar Industry's Pricing Trends [View article]
    Thanks a lot.
    Mar 29 03:32 AM | Likes Like |Link to Comment
  • Insights On The Solar Industry's Pricing Trends [View article]
    EysteinH,

    Why do you think that BoS costs is going to fall faster, especially inverters?
    Mar 28 04:16 AM | Likes Like |Link to Comment
  • Insights On The Solar Industry's Pricing Trends [View article]
    EysteinH,

    Why do you think that BoS is going to fall faster and especially inverters?
    Mar 28 04:16 AM | Likes Like |Link to Comment
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