Canadian Solar Posts Profit In Q3 - Quick Facts

(RTTNews) - Canadian Solar Inc. (CSIQ) posted third-quarter net income attributable to the company of $27.7 million, or $0.56 per share, compared with a loss of $43.7 million, or $1.01 per share, in the 2012 period. On average, 2 analysts polled by Thomson Reuters expected earnings per share of $0.36 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net revenue reached $490.9 million, up 50.6% from $326.0 million in the third quarter of 2012. Analysts estimated revenues of $480.10 million for the quarter. Total solar module shipments in the 2013 third quarter were 478 MW, compared with 384 MW a year earlier.

Looking ahead to the fourth quarter of 2013, module shipments are expected to be in the range of around 480 MW to 500 MW.

In line with guidance for the fourth quarter of 2013, the firm now sees annual module shipments to be about 1.75 GW to 1.77 GW, at the top end of its prior guidance of 1.6 GW to 1.8GW.