Canadian Solar Updates Full Year Guidance

(RTTNews) - Canadian Solar Inc. (CSIQ) announced that, for the full year 2015, the company is updating its guidance for total module shipments recognized in revenue to be in the range of approximately 4.15 GW to 4.2 GW. Total revenue for the full year 2015 is expected to be in the range of $3.28 billion to $3.33 billion, compared to prior guidance of $2.8 billion to $3.0 billion.

For the fourth quarter of 2015, the company expects total module shipments to be in the range of approximately 1,300 MW to 1,350 MW, including approximately 170 MW of shipments to the company's utility-scale solar projects that may not be recognized in the fourth quarter 2015 revenue. Total revenue for the fourth quarter of 2015 is expected to be in the range of $930 million to $980 million, with gross margin expected to be between 13% and 15%.

For the third-quarter 2015, non-GAAP net income attributable to Canadian Solar was $46.0 million, or $0.79 per share. Net revenue was $849.8 million, down 7.1% from $914.4 million, prior year.