Trina Solar (TSL) Cuts Q2 Shipments Outlook, Lowers Gross Margin Write-Down Expectations
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Trina Solar Limited (NYSE: TSL) announced today the following updates to its previous guidance made for the quarter ended June 30, 2012.
The Company estimates its solar module shipments in the second quarter of 2012 to be between 390 MW to 420 MW, compared to the Company's previous guidance of 500 MW to 520 MW for the reasons discussed below. Additionally, for the second quarter of 2012, the Company estimates that overall gross margin, including the impact of a provision for potential countervailing and anti-dumping duties and a non-cash inventory write-down in the range of $26 million to $28 million, to be 7.0% to 9.0%, compared to the Company's previous guidance of approximately 10%.
The Company further expects that its operating expenses in the second quarter of 2012 will be impacted by:
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The Company estimates its solar module shipments in the second quarter of 2012 to be between 390 MW to 420 MW, compared to the Company's previous guidance of 500 MW to 520 MW for the reasons discussed below. Additionally, for the second quarter of 2012, the Company estimates that overall gross margin, including the impact of a provision for potential countervailing and anti-dumping duties and a non-cash inventory write-down in the range of $26 million to $28 million, to be 7.0% to 9.0%, compared to the Company's previous guidance of approximately 10%.
The Company further expects that its operating expenses in the second quarter of 2012 will be impacted by:
- A receivables provision between $45 million to $48 million primarily for certain customers' accounts receivables; and
- A foreign currency exchange loss between $22 million to $23 million, which was net of changes in fair value of derivative instruments.
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