May. 24, 2012 (China Knowledge) - Trina Solar Ltd<TSL>, a Chinese manufacturer of photovoltaic products, has posted US$29.8 million-net loss for the first quarter of 2012, whereas it earned US$47.7 million in net profit in the same period of last year.
During the period from January to March 2012, the U.S.-listed firm's diluted loss per American Depositary Share was US$0.42.
Operating revenue for the first quarter of 2012 was US$349.9 million, a decline of 36.5% from a year earlier. Total shipments were 380 megawatts, compared with 424.9 MW in the fourth quarter of 2011 and 320.4 MW in the first quarter of last year.
As of Mar. 31, 2012, the company had US$748.3 million in cash.
For the second quarter of this year, Trina Solar expects to ship between 500 MW to 520 MW of PV modules, and the firm's total PV modules shipments are estimated to reach 2 gigawatts to 2.1 GW in the whole year of 2012, reflecting an increase of 32.5% to 39.1%, sources reported.