Trina Solar posted a $20m loss in the third quarter of 2015, compared with a profit of $40.9m in the previous period.
The company said the loss was down to $45m provision made for the settlement of the Solyndra lawsuit. It also experienced increased general and administrative expensed during the quarter.
Revenues increased during the period to $792.6m, an increase of 9.6% from the second quarter of 2015 and 28.5% from the third quarter of 2014.
Total shipments were 1703.2MW, consisting of 1353.2MW of external shipments and 350MW to the company’s downstream power projects.
This compares with total shipments of 1231.6MW, consisting of 1000.7MW of external shipments and 230.9MW of internal shipments in the second quarter of 2015.
Trina Solar said the sequential and year-over-year increases in revenues and shipments were largely driven by growing demand from China, the US and emerging markets.
Trina Solar chairman and chief executive officer Jifan Gao said: “We had a solid quarter of operations that came in ahead of our expectations, despite the one-off negative impact from the settlement of the Solyndra lawsuit and currency fluctuations that we experienced.”
Image: Trina Solar
