Canadian Solar Posts Loss In Q4

(RTTNews) - Canadian Solar (CSIQ) reported a fourth quarter net loss attributable to Canadian Solar of $86 million, or a net loss of $1.66 per share, compared to net income of $34 million, or $0.48 per share, a year ago. Net revenues were $1.2 billion, down 20% from a year ago, mainly due to lower sales of solar modules and battery energy storage systems. Total solar module shipments recognized as revenues were 4.3 GW, down 47% year-over-year.

In first quarter, the company expects total revenue to be in the range of $900 million to $1.1 billion. Gross margin is expected to be between 13% and 15%. Total module shipments recognized as revenues are expected to be in the range of 2.2 GW to 2.4 GW.

In pre-market trading on NasdaqGS, Canadian Solar shares are down 13.66 percent to $15.99.

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