Solar Stocks Trading Alert for Canadian Solar (CSIQ)
Category: Investment, Renewable Energy
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News about Canadian Solar Inc.
Point Roberts, WA - March 13, 2013 (Investorideas.com renewable energy newswire) Investorideas.com, an investor research portal specializing in sector research for independent investors issues a trading alert for solar Canadian Solar Inc. (NasdaqGS: CSIQ), trading at $3.66, gaining 0.19 or 5.48% as of 1:21PM EDT on over 700,000 shares.
On Monday the Company announced its financial results for the fourth quarter and fiscal year ended December 31, 2012.
Fourth Quarter 2012 Highlights
- Solar module shipments were 404 MW, compared to 384 MW in the third quarter of 2012.
- Net revenue was $294.8 million, compared to $326.0 million in the third quarter of 2012.
- Revenue derived from the Company's total solutions business represented 12.8% of total revenue, compared to 21.5% in the third quarter of 2012.
- Gross margin was 5.0%, compared to 2.2% in the third quarter of 2012.
- Cost of revenue included a $6.8 million depreciation charge for underutilized assets, representing 2.3% of revenue.
- Diluted loss per share was $2.43, compared to diluted loss per share of $1.01 in the third quarter of 2012.
- Non-GAAP adjusted diluted loss per share was $1.01, compared to non-GAAP adjusted diluted loss per share of $1.00 in the third quarter of 2012. A table that provides a reconciliation of GAAP to non-GAAP measure is available at the end of this press release.
- Cash, cash equivalents and restricted cash balances at the end of the quarter were $564.3 million, compared to $690.8 million at the end of the third quarter 2012.
Fiscal Year 2012 Highlights
- Solar module shipments were 1,543 MW, up 16.6% from 1,323 MW in fiscal year 2011.
- Net revenue was $1.3 billion, compared to $1.9 billion in fiscal year 2011.
- Gross margin was of 7.0%, compared to 9.6% in fiscal year 2011.
- Diluted loss per share was $4.53, compared to diluted loss per share of $2.11 in fiscal year 2011.
- Non-GAAP adjusted diluted loss per share was $3.04, compared to adjusted diluted loss per share of $1.68 in fiscal year 2011.
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