Canadian Solar soars to new annual high on earnings beat - Elizabeth Harrow

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Canadian Solar soars to new annual high on earnings beat
Nov 17, 2009 05:20 PM UTC

Elizabeth Harrow

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Symbol	Sentiment	Start	Return	Closed
CSIQ	n/a
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Via BloggingStocks:

Filed under: Earnings reports, Forecasts, Technical Analysis

Canadian Solar Inc. (CSIQ) tagged a new 52-week peak Tuesday morning in the wake of its latest earnings report. The solar company announced that it raked in a third-quarter profit of $25.3 million, or 69 cents per share, while revenue dipped 16% to $213.1 million. The results handily exceeded analysts' consensus expectations for a profit of 54 cents per share on $210.9 million in revenue.

Shipments for the recently concluded quarter more than doubled on a sequential basis, arriving at 102.6 megawatts (MW). For 2010, Canadian Solar said it expects shipments to range between 600 MW and 700 MW, compared to the current 2009 forecast for shipments of 295 MW to 305 MW.

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Canadian Solar soars to new annual high on earnings beat originally appeared on BloggingStocks on Tue, 17 Nov 2009 12:20:00 EST. Please see our terms for use of feeds.

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