Seeking Alpha

Up slightly at the open following a mixed Q4 report, Trina (TSL -8.1%) is now selling off;...

Up slightly at the open following a mixed Q4 report, Trina (TSL -8.1%) is now selling off; shares are still up over 2x from their Nov. bottom, but down 21% from their Feb. 14 close. Trina is guiding for Q1 module shipments of 420MW-430MW, up from 415MW in Q4 and 380MW in Q3. 2013 guidance is for module shipments of 2GW-2.1GW, up from 2012's 1.59GW. While Q4 module shipments beat estimates, weak pricing resulted in a gross margin of just 1.9%, though that's better than Q3's 0.8%. Opex -19% Y/Y, but still up as a % of revenue. (PR)
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