Trina Solar profit climbs, shares surge
Trina Solar Ltd, a Chinese maker of solar power products, said on Tuesday its fourth-quarter profit more than tripled, spurred by increased shipments and strong revenue growth.
By Agencies |
NEW YORK: Trina Solar Ltd, a Chinese maker of solar power products, said on Tuesday its fourth-quarter profit more than tripled, spurred by increased shipments and strong revenue growth.
The company's shares rose over 9 percent to $35.59 in early New York Stock Exchange trading. Net income rose to $15.7 million from $4.6 million a year earlier. Revenue rose more than 160 percent to $101.4 million.
The company said it has secured more than 80 percent of its estimated silicon requirements for 2008. It continues to be on target to meet its fully integrated capacity goal of 350 megawatts at end of 2008.
It said it has already contracted about 90 percent of its targeted module production for 2008.
The company's shares rose over 9 percent to $35.59 in early New York Stock Exchange trading. Net income rose to $15.7 million from $4.6 million a year earlier. Revenue rose more than 160 percent to $101.4 million.
The company said it has secured more than 80 percent of its estimated silicon requirements for 2008. It continues to be on target to meet its fully integrated capacity goal of 350 megawatts at end of 2008.
It said it has already contracted about 90 percent of its targeted module production for 2008.
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