Trina Solar Arbitration Win Lifts Q4 EPS

Trina Solar is awarded over $20.4 million in a settlement, boosting its quarterly earnings by over 50%.

Mar 20, 2014 at 6:37PM

Trina Solar's (NYSE:TSL) latest quarterly earnings have been adjusted upwards following a recent arbitration victory. The company announced that a $20.4 million award it received in a settlement over a solar module purchase agreement has affected certain line items from its Q4 and fiscal 2013.

The renewable energy firm had previously booked an accounts receivable provision of around $5.7 million for bad debt, which has been eliminated. As a result, its quarterly attributable net profit has been adjusted to $15.5 million ($0.21 per American Depositary Share), from the previously reported $9.8 million ($0.13).

For the full year, the company's attributable net result has also been adjusted. It has been narrowed to a $72.0 million loss ($1.01 per ADS), from the originally reported shortfall of $77.7 million ($1.09).

Trina Solar's ADSes dropped slightly following the news, declining by 0.2%, or $0.04, to close the day at $16.50. 

Eric Volkman has no position in Trina Solar. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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