Trina Release Q3 Results

CHANGZHOU, China, Nov. 21 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar", "we", or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced its financial results for the third quarter of 2007.

Third Quarter 2007 Highlights

-- Total net revenues increased 9.7% sequentially and 155.2% year-over-year to $82.6 million

-- Gross profit increased 16.7% sequentially and 95.4% year-over-year to $16.6 million

-- Net income increased 0.5% sequentially and 86.8% year-over-year to $7.2 million

-- Solar module shipments increased 4.0% to 21.15 MW from 20.33 MW in the second quarter of 2007 and 164.0% from 8.01 MW in the third quarter of 2006

"We are pleased with our results during the third quarter of 2007. As we prepared for capacity increases to come on line during the fourth quarter, we benefited from higher average sales price ("ASP") while further demonstrating our strong sales and marketing capabilities in both existing and new markets. In addition, during the quarter we commenced in-house test
production of both multicrystalline ingots and wafers, and we fully reduced our monocrystalline wafer production thickness from 220 to 200 microns thickness in line with our stated goals to expand capacity while reducing costs as a vertically integrated solar PV manufacturer," said Mr. JifanGao, Trina Solar's Chairman and CEO.

Trina Solar's net revenues in the third quarter of 2007 were $82.6 million, an increase of 9.7% sequentially and 155.2% year-over-year. Total shipments increased to 21.15 MW, up from 20.33 MW in the second quarter of 2007 and 8.01 MW in the third quarter of 2006. The average sales price ("ASP") was $3.75 in the third quarter of 2007, compared to $3.70 in the
second quarter of 2007, and $4.04 in the third quarter of 2006. Sales to customers in Germany accounted for 44% of total revenues in the third quarter of 2007, with Spain and Italy accounting for 37% and 15%, respectively, of total revenues.