The vertically integrated company shipped 355MW of modules in the quarter, up 77.5% from the year-earlier period, with average selling prices (ASPs) in the range of $1.20-1.30 a watt, generating $499.6m in revenue. Its gross margin was 2.4%, including $36.1m in non-cash inventory write-offs and losses from firm purchase commitments.
“This was a challenging quarter for everyone in the solar industry, and while most of our peers have significantly reduced their shipment guidance for the quarter and the year, Canadian Solar has actually bucked that trend,” Qu says.
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