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Trina Solar Announces Record Shipments In Q1’15 Report

Trina Solar announced a record 1,025.2 MW of solar modules shipped in the first quarter of 2015, in a Q1’15 report that also included net revenue which was up on a year earlier, but down on Q4’14.

On Thursday, Trina Solar, one of the global leaders in PV modules, announced net revenues of $558.1 million for the first quarter of 2015, an impressive increase on the first quarter a year earlier. As usual, however, these figures were down on the immediately preceding quarter, with Q4’14 yielding a strong $705,039.

Most impressively, however, was the significant increase in shipments for Q1’15. A total of 1,026.2 MW worth of solar modules were shipped in Q1’15, made up of 891.7 MW worth of external shipments and 134.5 MW worth of shipments to the company’s own downstream solar power projects. Q4’14 yielded total shipments of 1,098.8 MW, and Q1’14 only yielded 558.0 MW.

What probably impresses most of all, though, was the fact that shipments in the first quarter far exceeded the company’s own predictions, which they had provided to investors at between 840 MW and 870 MW.

“We are pleased to announce the strongest first quarter in our company’s history,” said Mr. Jifan Gao, Chairman and CEO of Trina Solar.

“We exceeded our own guidance as well as market expectations. We maintained our leading position as one of the largest solar companies in the world, with record shipments of over 1 GW during what is traditionally the weakest quarter of the year. Our gross margin rose quarter-on-quarter from 15.7% to 18% as our cost reduction efforts continue to generate positive results which more than offset the decline in the average selling price during the quarter. We also recorded a more favorable geographic sales mix alongside stronger sales of our higher value-added products.”

In line with the impressive shipment figures, Trina Solar’s shares jumped nearly 15% on the announcement.

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