Anyone who's read my coverage of the solar space knows that I'm pretty uneasy when it comes to nondiversified, emerging solar players. The swift kick to solar stocks like ReneSola
I've been tentative in my coverage of Trina Solar
With the latest quarterly report, I'm beginning to think these guys just might have what it takes to survive the great solar shakeout. I liked a lot of what I heard, so let me rattle off a few highlights:
- Positive cash flow from operations, as promised last quarter.
- An unlikely need to tap the capital markets in 2009.
- An improved cash collection cycle, as evidenced by significantly lower days-sales-outstanding.
Sure, there was the usual explosive growth. After all, Trina is working off of a much smaller base than big boys like Suntech Power