Canadian Solar posts quarterly loss as low prices keep hurting

Canadian Solar chief executive Shawn Qu

Higher shipments by PV manufacturer Canadian Solar could not save it from the stinging effect of lower equipment selling prices as it posted a second-quarter loss.

The company – which has a Canadian headquarters but carries out almost all its production in China – shipped 412MW in the April-June period, compared to 343MW in the first quarter of 2012 and 287MW in the equivalent in 2011.

However, the 412MW was down on the prediction of up to 450MW Canadian Solar had stuck with until as recently as three weeks ago, when it revised its forecasts in the light of a weaker than expected US market.

The PV manufacturer saw the continuing impact of falling module prices as…

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