Trina Solar Limited announced unaudited consolidated earnings results for the second quarter ended June 30, 2012. For the quarter, net revenues were $346,054,000, operating loss was $78,607,000, loss before income taxes was $108,205,000 and net loss attributable to Trina Solar Limited was $92,097,000 or $1.30 per diluted ADS against net revenues of $579,459,000, operating income of $32,842,000, income before income taxes of $14,800,000 and net income attributable to Trina Solar Limited of $11,760,000 or $0.17 per diluted ADS for the same period a year ago. The sequential and year-over-year revenue decreases were due primarily to lower module average selling price. CapEx was limited to approximately $11 million.

For the third quarter of 2012, the company expects to ship between 450 MW to 480 MW of PV modules. The company believes its overall gross margin, taking into account wafer and cell quantities outsourced from third party suppliers to meet demand in excess of its internal capacity and other needs, for the third quarter will be middle-single digits in percentage terms.

For the full year 2012, the company revised its expectations for total PV module shipments to be between 1.75 GW to 1.80 GW, compared to its previous guidance of 2.0 to 2.1 GW. The company forecasting its full year of 2012 CapEx will be much less than $20 million or depend on the market in requirement for repairing equipment.

The company reported impairment for property, plant and equipment of $12.8 million in the second quarter of 2012.

In conjunction with the restructuring, the company announced the following management changes: Mr. Mark Mendenhall has joined Trina Solar as Regional President, Americas. Mr. Mendenhall brings first hand solar industry experience and over 15 years of general management experience, including tenure as President and General Manager for SunEdison's North America Division, where he was responsible for its solar power plant business development in the North America region. Mr. Mendenhall also worked for over 30 years at Tyco International in its various subsidiaries, including Tyco Electronics, Tyco Circuit Protection and Raychem, where he successfully established operations and customer relationships across consumer electronics and energy markets in the Americas, China, Korea, Japan, and Eastern Europe. Mr. Qi Lin has joined Trina Solar as Regional President, China. Prior to joining the company, Mr. Lin served as senior vice president for Siemens SLC as well as general manager of its renewable energy division for North East Asia, where he was responsible for developing renewable sector businesses for the region, while developing and implementing their crystalline PV and concentrated solar power market entry and development strategy for China.Prior to his work at Siemens, Mr. Lin was general manager for China and group vice president for LM Glasfiber. Additionally, Mr. Jim Wang has joined Trina Solar as Vice President, Special Projects, and will report directly to Mr. Jifan Gao. Mr. Wang brings to the company over 20 years of management experience in the PV and semiconductor industries from positions which include vice president of sales and marketing at GCL-Poly Energy Holdings Ltd, chief operating officer at Comtec Solar Systems, as well as senior director of business development at JA Solar. Timed with these changes, Mr. Mark Kingsley, the company's Chief Commercial Officer, has left the Company for personal and business reasons.