Canadian Solar Reports $4.8 Million Loss

Solar Canadian Solar CA

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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