Canadian Solar returns to profit

e14news — Thu, 07 Oct 2021 08:59:28 GMT

Current Revision posted to Documents by e14news on 10/7/2021 8:59:28 AM
Canadian Solar Inc returned to profit in the last three months of 2010 as solar panel sales in the US and Asia surged.

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."