However, results still fell below analyst expectations and the company forecast weaker margins in the first quarter.
According to the solar panel manufacturer, net income for the October-December period totaled $25.5 million, or 58 cents per share.
This compares with 38 cents per share in the same period of 2009.
"We also expect to build on our momentum in non-European markets, especially North America and Japan, with Canadian Solar playing a larger role in downstream growth opportunities, such as turn-key solar systems in Ontario and systems kits in Japan," commented Shawn Qu, chairman and chief executive, in a statement.
"We believe that, while European markets will continue to dominate the solar business in 2011, non-European markets can, in some segments, support higher selling prices and higher rates of growth than traditional European markets."
