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The stock was down 53 cents just before 8:30 am ET, dropping to $6.69. If pre-market losses hold, the stock will open at a new low.
Trina Solar reported third-quarter net income of $32.05 million, compared to $7.77 million last year. Earnings per ADS were $1.17, up from $0.31 in the prior-year quarter.
Net income from continuing operations was $32.05 million, higher than $7.6 million in the prior-year quarter. Earnings per ADS from continuing operations were $1.17, up from $0.30 a year earlier.
Seven analysts polled by First Call/Thomson financial expected the company to earn $1.19 per share. Analysts' estimates typically exclude special items.
Net revenues climbed to $290.72 million from $82.57 million in the year-ago quarter. Seven analysts had a consensus revenue estimate of $276.87 million.
Moving ahead, the company expects fourth-quarter total net revenues to be in the range of $190 million-$210 million. Analysts expect revenues of $278.35 million.
The company lowered its fiscal 2008 total net revenues guidance to the range of $800 million-$850 million from the previous range of $850 million-$900 million. Analysts expect revenues of $865.02 million.
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