Canadian Solar in roaring Q4

Canadian Solar says another strong quarterly performance likely propelled it to profitability for the whole of 2013, representing its first full-year surplus since 2010, and another sign of the powerful turnaround playing out in the global PV industry.

Canadian Solar’s preliminary figures show fourth-quarter module shipments of 605MW-620MW – vastly exceeding its previous guidance – suggesting full-year shipments of about 1.9GW.

For both the fourth-quarter and the whole of 2013 the company “expects to be profitable at the net-income level”, following net losses of $195m $91m in 2012 and 2011, respectively.

Canadian Solar, which is based in Ontario but does most of its manufacturing in China, rebounded to profitability in the third quarter on strong module sales and its booming downstream projects business.

The company recently revealed that it has carved out a 7% market share in the lucrative Japanese Log in to read complete article.

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