Canadian Solar posts Q1 loss, considers production expansion

Canadian Solar chief executive Shawn Qu

Canadian Solar chief executive Shawn Qu says his company's manufacturing capacity is sufficient to hit its 2012 shipment target of 1.8-2GW, but management is considering expansions to improve output, reduce costs and make new high-efficiency solar cells.

"Right now we are looking in to some expansion plans," Qu told analysts after his company reported first quarter net sales of $325.8m, down 26.5% from a year ago, and a net loss of $21.3m against a $5.9m profit in the first quarter of 2011. Gross margin was 7.7%, a figure Qu sees rising to 8-10% in the current quarter.

Analyst Kelly Dougherty of Macquarie who asked Qu about 2013 production capacity acknowledged it is a "taboo" subject given the global PV equipment oversupply.

Qu says Canadian Solar is "looking at automation of Log in to read complete article.

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login

Recharge App


Dowload the Recharge Mobile App
Get the free Recharge subscriber app on your device running iOS or Android.
Read Recharge anytime and anywhere.
Recharge IOS App