Trina Solar Declines In Pre-Market On Q3 EPS News, Slashes FY08 Revenue Outlook

(RTTNews) - Trina Solar (TSL | Quote | Chart | News | PowerRating) fell in pre-market trading, after reporting its third quarter earnings and cutting its 2008 fiscal year revenue forecast.

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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