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.