- Trina Solar Limited ("Trina Solar" or the "Company"), a leading integrated manufacturer of photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced its selected estimated unaudited financial results for the third quarter of 2008.
- For the third quarter of 2008, the Company expects its net revenues to be in the range of approximately $285 million to $294 million, exceeding its previously forecasted range of $250 million to $265 million. The new range, which includes non-module income, represents an approximately 40% to 44% increase from its net revenues in the second quarter of 2008.
- During the quarter, the Company shipped approximately 66 MW of PV modules, compared to its previously forecasted range of 62 MW to 66 MW.
- As guided previously, the Company's gross margin for the third quarter is expected to be in the range of approximately 23.0% to 25.0%, and its operating margin is expected to be in the range of approximately 15.0% to 17.0%.
- "We expect to strengthen our operating cash flows over the third and fourth quarters of 2008, which combined with the proceeds from our senior convertible notes offering, will greatly enhance our cash position for future operations." (smart to talk about cash since everyone is in fetal position over debt)
Based on customer commitments in signed contracts and the Company's current operating and market conditions, the Company believes it is on track to meet or exceed its full year 2008 targeted total net revenues of between $850 million and $900 million.
Long Trina Solar in fund and personal account
9 comments:
Can u create a list of the absolute no-brainers based on 'fundamentals'? I know we see a lot of Coal companies...
Most of my no brainers are down 50% in the past 4 months :) I'm the wrong person to ask... hah
where's the private equity to do a couple LBO's and get the fundamentals back?
oh yeah.. broke.
Until credit returns, and firms can start to take these over, you just cant rely on valuation.
and what will the numbers be for 09 & 10 with oil plummenting. The fear is that sales will drop as oil drops. Agree that global growth will likely have another 10 yrs in it but until this all settles down nobody is willing to pay up short term.
I just hate that arguement for multiple reasons
#1 oil does not compete with solar. Solar does not go into your car. It is going back to 2nd grade thesis. If you want to make a valid arguement you need to talk about eletrical generation which is coal and natural gas. Oil has nothing to do with it
#2 if all solar came online in 2009 as planned, it would be something like 0.3% of all energy generation needs. So as "oil" falls that means the 0.3% goes away?
#3 It is very American thinking. What happened in the 1970s during the oil shock? "Backwards" countries like Brazil said never again - they put in 20-25 year plan for ethanol. Netherlands did the same. Others in Europe did the same with geothermal and the like. It is a very American way of thinking that the next 6-24 months of price will cause the entire world to change their plans. Only in America do we have short sightedness and lack of focus. In other countries, they do not want to be hostage to energy prices that in 3 years can be back to where they were this summer.
I know it is hard to believe but other countries actually are not as "progressive" as the US who can't look past 3 months.
That said, your arguement is a common one and since no one even makes a distinction between energy that goes into your car or energy that goes to power your home, and everyone thinks every country thinks like America - I see why the constant panic.
I think the argument that can be made for solar being completely opposite than coal and gas is simply the increased pressure to be progressive with green energy. So fossil fuels could be down with solar up. Many say we will have to go for the cheapest energy source out there and forget about green house gases while in a recession, so who knows WHEN, not if, solar will become popular again... funny how the environmental long term picture is unpopular during a war, during a boom and of course during a downturn... and by the time the natural catastrophies are killing us, the country will be bankrupt.
solar and oil are totally unrelated. power prices are set on a marginal dispatch usually natgas. So in *theory* and I use that loosely, if oil goes down, natgas goes down, reduces the cost of marginal dispatch, reduces power prices, reduces revenue from solar. But, man, thats alot of degrees of seperation. And I dont buy the oil/natgas parity in the short term. (ie < 5 years) It only works in new york city. and in the winter, where they still using heating oil.
But I do worry about the amount of subsidies solar companies need, to be competitive. Longer term, once technology and production costs decline, I think solar is the one true "green" technology.
Speaking of oil, it's been awhile since you commented on Petrobras (PBR). With all of the short term scares surrounding oil, are you still considering an investment in this behemoth?
If you are asking me if I still like PBR - yes. If you are asking me would I invest in it in this environment - no. There are no investments - everything is a trade nowadays. PBR was up 30% the other day, now it is down 20%. There is no investing going on there.
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