Trina Solar (TSL) - Where Do I Start?

Trina Solar (TSL) continues to post negative "1x" hits that continue to cloud operational strength. We'll get into operations next, but let's start with the 1x hits. First is their venture into changing from Chinese RMB to USD as their functional currency. This came unannounced (i.e. "surprise!) last quarter and ruined to the tune of $4M what was an otherwise exceptional earnings report. [Jun 6: Stellar Trina Solar Earnings Masked by Currency Adjustment] So $0.67 EPS turned into $0.51 EPS (vs analysts $0.48)

Now here is the kicker, they reported very late in the earnings season and they were in the 10th week of a 13 week quarter ... so if their internal controls had any... well let me refrain from speaking my mind. Let's just say 10 weeks into the quarter you should have a pretty darn good idea of how your quarter will end up. Trina guided to a $3M forex loss...