Canadian Solar (CSIQ) turned in a stinker of a quarter with a $4.8 million loss or a loss of $.13 per share, compared to $18.6 million in net income and $.57 per share for Q108.
The loss is pretty tiny, and it’s in line with what every solar company is reporting. Canadian Solar’s loss decreased considerably from a $49.2 million loss in Q4.
The solar company adjusted its outlook for the year. It saw shipments increase month over month, and expects that to continue. Hoever, the uncertain financial climate is affecting sales, especially in the U.S. Also, rivals are slahing prices as they try to clear their inventories. The company expects to ship 200-220 MW for the year.
Here’s a breakdown of its revenue:
Revenue by Geographical Location (US $ millions)
Region Q1 2009 Q4 2008 Q1 2008
Revenue % Revenue % Revenue %
Europe 36.0 72.7% 52.8 76.8% 167.6 97.9%
Asia 10.8 21.8% 9.6 13.9% 2.4 1.4%
America 2.7 5.5% 6.4 9.3% 1.2 0.7%
Total 49.5 100% 68.8 100% 171.2 100%
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