Advertisement
News
Advertisement

Trina Solar Q2 profit down

Tue, 08/23/2011 - 3:40am
Reuters

BANGALORE (Reuters) - China's Trina Solar Ltd reported a 69 percent drop in its second-quarter profit, as subsidy cuts in Italy hurt the solar panel maker's margins.

"Our sales were affected by end-market financing and high industry inventory due in part to recently-issued regulatory revisions and reduction of solar subsidies in Italy," Chief Executive Jifan Gao said in a statement.

Quarterly net income was $11.8 million, or 17 cents per American Depositary Share (ADS), compared with $38.7 million, or 52 cents per ADS, a year ago.

SOURCE

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading