Trina, China’s third-largest supplier of PV modules after Yingli and the recently bankrupt Suntech, saw its revenues fall to $260.2m in the first quarter of 2013 – down from $349.9m during the same period last year.
More troubling for the company, its net loss widened from $29.8m in the year-ago period to $63.7m, despite having significantly lowered its operating expenses.
Polysilicon prices, which have started rising again ahead of possible tariffs in China, added to the financial strain at Changzhou-based Trina.
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