Trina Solar (TSL) Issues Guidance, Announces Follow On Offering

Trina Solar (TSL) provided guidance for this quarter, next quarter and the full year 2009 after the bell today. 

For the 2nd quarter, the company narrowed its shipment estimate from 60 – 65MW to 63 – 65MW.  The company expects revenues in the range of $148 – 152 million, a 25% haircut from the year ago quarter.

For next quarter, the company expects to bump up shipments to 90 – 110MW and expects the full year shipment total to be in the range of 350 – 400MW, an increase of 74 – 99% over 2008 levels.

“We are pleased with our results during the second quarter, which we believe reflect Trina Solar’s brand being recognized increasingly for its quality and performance by both our customers and their lenders,” said Jifan Gao, CEO of TSL. “Our improved operating performance reflects a steady improvement in the global solar marketplace and a supportive regulatory environment, and supports the strength of our business model, as the overall cost of solar energy declines and the cost of ownership falls.”

The company has also announced a big 4 million share ADS follow on offering for the repurchase of some of its convertible notes, to fund expansion and for other general purposes.  With the stock up more than five fold off the bottom, not much of surprise here.  The dilution is pressuring the stock just a bit in after hours trading.

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