Canadian Solar Q4 Profit Rises - Quick Facts

(RTTNews) - Canadian Solar Inc. (CSIQ) reported fourth-quarter net income to company of $75.74 million or $1.28 per share, compared to $20.95 million or $0.39 per share, prior year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.34 for the quarter. Analysts' estimates typically exclude special items. Revenue increased to $956.15 million from $519.47 million last year. Analysts expected revenue of $953.94 million for the quarter. Total solar module shipments were 1,125 MW, with 897 MW recognized in revenue, compared to 621 MW in the fourth quarter of 2013.

The company had $1.02 billion of cash, cash equivalents and restricted cash as of December 31, 2014.

For the first quarter of 2015, the company expects total module shipments to be in the range of approximately 1,000 MW to 1,030MW, including approximately 55 MW of shipments to the Company's utility-scale solar projects that will not be recognized into first quarter 2015 revenue. Total revenue for the first quarter of 2015 is expected to be in the range of $725 million to $775 million, with gross margin expected to be between 16% and 18%. Analysts expect the company to report first-quarter revenue of $733.90 million.

For the full year 2015, the company expects total module shipments to be in the range of approximately 4.0 GW to 4.3 GW, including 3,300MW to 3,500 MW of third-party module sales, 235 MW to 275 WW of project and EPC sales, and 460 MW to 490 MW of shipments to projects which will be held on the balance sheet pending the launch of a YieldCo vehicle. Total revenue for the full year 2015 is expected to be in the range of $2.8 billion to $3.0 billion. Analysts expect the company to report full year 2015 revenue of $3.42 billion. The company noted that, absent the planned change in its energy business model from a build-to-sell to a build and operate model, revenue for 2015 would be approximately $1.0 billion to $1.1 billion higher.