Shares of Trina Solar Limited (ADR) (NYSE:TSL) ended Friday session in red amid volatile trading. The shares closed down -0.26 points or -2.48% at $10.21 with 3,789,153 shares getting traded. Post opening the session at $10.44, the shares hit an intraday low of $10.19 and an intraday high of $10.46 and the price vacillated in this range throughout the day. The company has a market cap of $920.63 million and the numbers of outstanding shares have been calculated to be 4.28 billion shares.
Trina Solar Limited (ADR) (TSL) on Aug. 23, 2016 announced its unaudited financial results for the quarter ended June 30, 2016.
Second Quarter 2016 Financial and Operating Highlights
- Total module shipments were 1,658.3 MW, consisting of 1,619.0 MW of external shipments and 39.3 MW of shipments to the Company’s own downstream power projects. This compares with total shipments of 1,423.3 MW in the first quarter of 2016, consisting of 1,370.4 MW of external shipments and 52.9 MW of shipments to the Company’s own downstream power projects, and total shipments of 1,231.6 MW in the second quarter of 2015, consisting of 1,000.7 MW of external shipments and 230.9 MW of shipments to the Company’s own downstream projects.
- Net revenues were $961.6 million, compared with $816.9 million in the first quarter of 2016 and $722.9 million in the second quarter of 2015.
- Gross profit was $176.3 million, compared with $139.7 million in the first quarter of 2016 and $144.9 million in the second quarter of 2015.
- Gross margin was 18.3%, compared with 17.1% in the first quarter of 2016 and 20.0% in the second quarter of 2015.
- Operating income was $83.7 million, compared with $44.8 million in the first quarter of 2016 and $60.7 million in the second quarter of 2015.
- Net income attributable to Trina Solar’s ordinary shareholders was $40.3 million, compared with $26.6 million in the first quarter of 2016 and $40.9 million in the second quarter of 2015.
- Earnings per fully diluted American Depositary Share (“ADS” with each ADS representing 50 of the Company’s ordinary shares) were $0.42, compared with $0.29 in the first quarter of 2016 and $0.42 in the second quarter of 2015.
Mr. Jifan Gao, Chairman and CEO of Trina Solar, commented, “We had another solid quarter with major financial and operational metrics improving across the board. Module shipments during the quarter increased on a sequential and year-over-year basis to 1.66 GW. Module shipments were driven mainly by continued demand from China ahead of the expected subsidy policy adjustment. Our new production facility in Thailand is ramping up its capacity on schedule and is helping to strengthen our competitiveness in the U.S.
“Our downstream business performed well in China’s rapidly growing market as we connected 292.8 MW of utility projects and 28.0 MW of DG projects during the quarter. We also made progress overseas with the sale of 11.2 MW of projects in the U.K. and Italy during the quarter.
“We are a proven and leading innovator in the global PV industry, having made a series of breakthroughs in transforming lab technology into production practice. Following the achievement of a 21.1% average efficiency for industrially-produced mono-crystalline cells using passivated emitter rear cell (PERC) technology, our R&D team achieved an average efficiency of 20.2% for industrially-produced P-type multi-crystalline silicon cells with PERC technology. We also achieved an average efficiency of 18.7% for our multi-crystalline silicon P-type double print cells that were produced for commercial shipment. We will continue driving the development of our high-efficiency cells in order to offer customers the highest quality products.
“Going forward, we will continue to focus on developing our brand name, products and technology, while identifying opportunities to develop our downstream business. We believe that our strategy gives us a competitive edge in the industry and provides a solid foundation for our sustainable and long term development.”
Shares of Ciena Corporation (NYSE:CIEN) ended Friday session in green amid volatile trading. The shares closed up +0.08 points or 0.38% at $21.24 with 3,780,897 shares getting traded. Post opening the session at $21.17, the shares hit an intraday low of $20.82 and an intraday high of $21.27 and the price vacillated in this range throughout the day. The company has a market cap of $2.97 billion and the numbers of outstanding shares have been calculated to be 139.34 million shares.
Ciena Corporation (CIEN) on September 8, 2016 announced Team “SP Avengers” from Singapore Polytechnic the winner of its inaugural global application development competition, titled the Open Networking Innovation Competition (ONIC). This first-of-its-kind event, specially organized for research and education (R&E) institutions in the Asia Pacific region, was co-hosted with the Korea Institute of Science and Technology Information (KISTI) and Singapore’s SingAREN.
The month-long competition sought to encourage R&E students, staff and faculty to develop applications that leverage Ciena’s industry-leading packet-optical networking platforms as well as the open software tools and interfaces that are reshaping the telecom industry.
Participating teams, formed by students, staff and faculty members of R&E institutions affiliated with the co-hosts, leveraged the openness and programmability aspects of Ciena’s platforms to enable functions and capabilities not possible with traditional hardware-based infrastructure.
Each team had one month to develop a software application for Ciena’s Waveserver™ stackable interconnect system on the Emulation Cloud™, an open application development portal, using publicly available application programming interfaces (APIs). Hosted in the cloud, Ciena’s Emulation Cloud helps accelerate DevOps and ease the integration with IT systems.
After assessing all submissions based on level of innovation, potential for business use and near and long-term benefits, the judging panel, which consisted of senior Ciena executives, named Singapore Polytechnic’s Team “SP Avengers” champions of ONIC 2016. The winning team impressed the judges with its innovative mobile network management and monitoring system that was capable of easing the tedious process of troubleshooting with convenient remote access and user-friendly visualization. Led by team leader and Lecturer Phyoe Kyaw Kyaw, the team included Senior Lecturer Dr. Lim Joo Ghee and three students: Jeremy Lee Kian Kiat, Muhamad Farhan Bin Mohamed Haryadi and Seow Zhi Sheng.
“The competition provided our team with the opportunity to work with software-based infrastructure and to learn how DevOps can be applied to even the realm of web-scale networking. With the limited time given, we managed to create what we hope is an innovative, yet useful solution. We enjoyed every moment; what’s more, we learned a huge amount about technologies that are driving the industry forward.”
– Phyoe Kyaw Kyaw, Lecturer and Leader of Team “SP Avengers”, Singapore Polytechnic
“It’s always inspiring to see what smart young engineers can build with not much time – and perhaps too much caffeine. Team SP Avengers took great advantage of the new reality of openness in networks to build an app which was both useful and cool. Congratulations to them. All of us at Ciena look forward to seeing what these talented engineers do in the future.”
– Rick Dodd, Ciena’s Chief of Open Architecture
“We are proud to have been part of this event that gave rising engineers an opportunity to exchange ideas and see firsthand how networks are evolving and transforming to be more agile and flexible.”
– Buseung Cho, Director, Department of KREONET Operation and Service, KISTI
“It was exciting to partner with Ciena on this initiative. We think it is vital to create opportunities that allow students and future developers to explore and develop software and optical networking expertise and apply their ideas to address real-world problems.”
– Dr. John Kan, President, SingAREN