Trina Solar takes $26m against US duties as it posts Q1 loss

Trina Solar reported a first quarter loss as margins on its solar panels were eroded by provisions for anti-dumping duties.

The company said its gross margin fell to 5.8% compared to previous guidance in the low teens, after it took a $26.2m charge for potential countervailing and anti-dumping duties levied by the US.

Net loss was $29.8m, compared to a profit of $47.7m in the first quarter of 2011.

Chinese module makers are planning to outsource cells from Taiwan and other countries to avoid paying duties of 31% to export their product to the US.

However Trina executives say it has taken time to qualify third-party suppliers, forcing them to set aside Log in to read complete article.

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