Trina's Adj Q1 Profit Beats

Shares of Trina Solar Ltd. (TSL - Snapshot Report) advanced more than 6% today after posting a surprise first-quarter adjusted profit.

The company announced earnings of 2 cents, excluding items, per American Depository Share. Analysts, on average, were expecting a loss of 5 cents per share.

Revenue expanded 9.5% year over year to $132.1 million, driven by 66% growth in total photovoltaic (PV) module shipments to 48.8 MW.

Trina also said that it continues to expect fiscal 2009 PV shipments between 350 MW and 400 MW, a growth of 74% to 99% over 2008.

Earnings estimates for this year have moved lower by 6 cents over the past week to $1.23 per share, as 1 of 8 covering analysts pulled back on expectations.

TSL, a Zacks #3 Rank ("Hold") stock, is trading on volume of approximately 1.7 million, which is higher than average daily volume of about 1.5 million.