Trina Solar Settlement With Solyndra Prompts Shift to Loss
- Sales to China helping boost panel deliveries to 1.7 gigawatts
- Trina is the world's biggest supplier of solar panels
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Trina Solar Ltd., the world’s biggest supplier of solar panels, reported its first loss since 2013 after settling a legal dispute with another solar manufacturer that went out of business four years ago.
Trina put aside funds in the third quarter to cover a $45 million settlement with Solyndra LLC, resolving a long-running conflict. That led to a net loss of $20 million for the quarter, the Changzhou, China-based company said in a statement Monday. Analysts were expecting earnings of $31.9 million, the average of six estimates compiled by Bloomberg.