OTTAWA (dpa-AFX) - Canadian Solar Inc. (CSIQ) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $12.35 million, or $0.19 per share. This compares with $83.71 million, or $1.19 per share, in last year's first quarter.
Analysts on average had expected the company to earn -$0.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 21.8% to $1.33 billion from $1.70 billion last year.
Canadian Solar Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $12.35 Mln. vs. $83.71 Mln. last year. -EPS (Q1): $0.19 vs. $1.19 last year. -Revenue (Q1): $1.33 Bln vs. $1.70 Bln last year.
-Guidance: Next quarter revenue guidance: $1.5 - $1.7 Bln Full year revenue guidance: $7.3 - $8.3 Bln
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