Canadian Solar ups guidance

PV manufacturer Canadian Solar said its first quarter module shipments are likely to range between 335MW and 345MW, exceeding its earlier guidance.

The New York-listed company, which makes most of its products in China, previously expected an upper level of 310MW.

Canadian Solar shipped 343MW in the equivalent first quarter of 2012 and 404MW in the final three months of last year.

It said its gross margin is likely to come in between 9% and 10% for the first quarter, versus 7.7% during the same period a year earlier.

The company plans to release its full earnings for the quarter on 28 May.