Trina Solar ( TSL) said Tuesday that it posted a net loss in the fourth quarter due to falling prices for solar modules.

Trina had a net loss of $673,000, or 3 cents per American depositary share, compared with net profit of $17.5 million, or 69 cents per ADS a year ago.

However, Trina's results beat the average analyst estimate of a net loss of 4 cents per share.

The company generated net revenue of $216.3 million in the fourth quarter, up 113% from the same period a year ago.

The company, which is based in Changzhou, China, said that the solar market has been hurt by the global economic crisis.

"The value of and loyalty towards our brand helped us to exceed our quarterly revenue guidance, despite sectorwide declines in the average sales price of modules," said Jifan Gao, CEO of Trina Solar. "The launch of our European warehouse operations added to our fourth quarter sales by improving our delivery reponse time and services to customers," Gao said.

Although Trina was able to beat analyst estimates for the quarter, the firm's performance was a far cry from the large earnings gain that First Solar ( FSLR) posted last week.

Trina Solar's ADRs on the New York Stock Exchange were recently moving 6.2% higher to $6.33 a share.