Reuters: Global Markets: Trina Solar loss narrows as shipments to newer markets rise

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Trina Solar loss narrows as shipments to newer markets rise Aug 20th 2013, 11:16 Tue Aug 20, 2013 7:16am EDT (Reuters) - China-based Trina Solar Ltd (TSL.N) reported a smaller quarterly loss as it shipped more solar panels to newer markets such as Japan, China and India. Trina shares rose 3 percent in trading before the bell. The company shipped 647 megawatts (MW) of panels in the second quarter, higher than the 419 MW it shipped a year earlier. Chinese solar companies are pushing into newer markets as duties in Europe threaten loss of market share. "In the second quarter, there was regulatory uncertainty surrounding the E.U.'s anti-dumping case against (solar) imports from China. Geographic diversification of revenue helped to mitigate such regulatory risks," Chief Executive Jifan Gao said in a statement. Gross margins rose to 11.6 percent in the quarter from 8.4 percent a year earlier as panel prices stabilized and the company reduced manufacturing costs. Panel prices fell about 66 percent in the two years to the end of December due to rapid capacity expansion in China and a loss of subsidies in Europe. Trina's net loss narrowed to $33.7 million, or 47 cents per American Depositary Share (ADS), in the quarter ended June 30, from $92.1 million, or $1.30 per ADS, a year earlier. Revenue rose 27 percent to $440.7 million. Shares of the company closed at $6.78 on the New York Stock Exchange on Monday. (Reporting by Garima Goel in Bangalore; Editing by Sriraj Kalluvila) Link this Share this Digg this Email Reprints

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