China’s Trina Solar posts Q2 net loss of $92.1m on lower prices

22 August 2012 04:19  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Trina Solar swung to a net loss of $92.1m (€73.7m) in the second quarter of 2012 from a net profit of $11.8m year on year because of lower prices, the photovoltaic (PV) products maker said late on Tuesday.

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)

By: Joey Lau

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