Canadian Solar Inc. Earnings

Canadian Solar Inc. (Nasdaq: CSIQ) today reported its preliminary
unaudited US GAAP financial information for the second quarter ended June
30, 2008.

Net revenues for the quarter were $212.6 million (including $5.1
million of silicon material sales), compared to net revenues of $60.4
million for the second quarter of 2007 (including $2.7 million of silicon
material sales) and $171.2 million for the first quarter of 2008 (including
$2.2 million of silicon material sales). Net income for the quarter was
$10.5 million, or $0.36 per diluted share, compared to a net loss of $2.9
million, or $0.11 per diluted share, for the second quarter of 2007 and net
income of $19.0 million, or $0.61 per diluted share, for the first quarter
of 2008. Excluding share- based compensation expenses of $2.3 million and a
one-time non-cash debt conversion charge of $10.2 million, non-GAAP net
income for the quarter is $23.0 million, or $0.78 per diluted share.

Yesterday CSIQ shares closed higher before the earnings release, but today this stock is loosing 6% after the earnings, but still above yesterdays up move.

More charts and news soon.

Labels: Canadian Solar Inc., CSIQ, Earnings

posted by Ertai at 1:42 PM