Trina Solar Limited Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Production Guidance for the Third Quarter of 2016; Reiterates Production Guidance for the Full Year of 2016
For the six months, the company's net revenues were $1,778.5 million compared with $1,281.0 million a year ago. Operating income was $128.5 million compared with $89.8 million a year ago. Income before income taxes was $92.0 million compared with $73.7 million a year ago. Net income attributable to the company was $66.9 million compared with $54.8 million a year ago. Earnings per fully diluted ADS were $0.71, compared with $0.59 for the same period in 2015.
For the third quarter of 2016, the company expects to ship between 1.55 GW and 1.65 GW of PV modules, of which 30 MW to 50 MW of PV modules will be shipped to the company's downstream PV projects, from which revenues will not be recognized.
The company reiterated its 2016 guidance of 6.30 GW to 6.55 GW, of which 220 MW to 260 MW will be shipped to the company's downstream projects, from which revenues will not be recognized. The company reiterated its 2016 guidance of global solar power project connections at between 400 MW and 500 MW, including 15% to 20% of DG projects in China.