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NEW YORK - Chinese solar company Trina Solar Ltd. said Wednesday it expects to report second-quarter sales above its own and Wall Street's forecasts, and will likely meet or beat full-year goals as well.
| TSL | 27.82 |  0.36 |
The company expects revenue of $200 million to $205 million, well ahead of its forecast of $169 million to $177 million.
Analysts surveyed by Thomson Financial are predicting sales of $174 million and earnings of 75 cents per share for the period.
Trina said it shipped 47 megawatts of solar modules during the quarter, and is on track to meet or beat its full-year target of $770 million and $808 million in sales. Analysts are looking for revenue of $786.1 million, on average.
Separately, Trina said it will sell $120 million worth of senior convertible notes due 2013, and grant underwriters an option to purchase up to an additional $18 million worth of notes to cover over-allotments.
The company will use the proceeds of the offering to expand manufacturing of wafers, solar cells and solar modules, buy raw materials, and for research and development and other general corporate purposes.
Credit Suisse Securities (USA) LLC, ABN AMRO and Deutsche Bank Securities Inc. will act as joint bookrunners for the notes offering.
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