Canadian Solar Posts Loss In Q1

(RTTNews) - Canadian Solar (CSIQ) posted a first quarter net loss attributable to Canadian Solar of $34 million, or $0.69 per share, compared to net income of $12 million, or $0.19 per share, a year ago. Adjusted net loss was $60 million, and adjusted loss per share was $1.07, compared to net income of $12 million or $0.19 per share.

Net revenues were $1.2 billion, down 10.0% year-over-year, mainly due to lower sales of battery energy storage systems and solar modules.

In second quarter, the company expects total revenue to be in the range of $1.9 billion to $2.1 billion. Gross margin is expected to be between 23% and 25%.

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