22 August 2012 04:19 [Source: ICIS news]
The company’s sales slipped by 40% year on year to $346.1m in this year’s second quarter, it said in a statement.
The operating expenses rose by 64.3% year on year to $107.6m in the second quarter, while its overall loss from operations rose to $78.6m from $32.8m in the same period in 2011, the company said.
"Industry overcapacity and demand constraints in newer and traditional PV markets contributed to deflationary pricing pressures in the second quarter, which adversely affected our operating margins and profitability," said Gao Jifan, chairman and CEO of Trina Solar.
($1 = €0.80)
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