UPDATE: Canadian Solar Up 14%, But Off Yr High Hit Earlier As Loss Narrows in Q1, Revenue Beats Estimates

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Canadian Solar Inc. ( CSIQ ) shares are up 14% at around $9.80 but well of a new year high of $10.65 hit earlier after the company reported a first quarter 2013 net loss of $4.4 million, or $0.10 per diluted share, compared to a net loss of $21.3 million, or $0.49 per diluted share, in the first quarter of 2012. The Street view was a loss of $0.84 per share. Revenues came in down nearly 20% from a year earlier at $263.6 million. This compared to analyst estimate of nearer $240 million.

For the second quarter of 2013, module shipments are expected to be in the

range of approximately 380 MW to 420 MW. For the full year 2013, the company

expects module shipments to be in the range of approximately 1.6 GW to 1.8 GW.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: CSIQ

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