On February 21st, 2012 Canadian Solar Inc. (Kitchener, Canada) released an updated shipment guidance for the fourth quarter of 2011, estimating that it shipped between 430 MW and 440 MW of solar photovoltaic (PV) modules during the quarter.

This represents a 24% increase from its earlier guidance and a 23% increase from the 355 MW the company shipped in the third quarter of 2011. Canadian Solar maintains its earlier gross margin guidance of between 5% and 8% for the quarter.

"Canadian Solar continues to successfully execute on our business strategy," states Canadian Solar Chairman and CEO Dr. Shawn Qu. "We are increasing shipments to customers in key markets worldwide, while at the same time aggressively reducing our manufacturing costs."

"In the market place we are winning by stressing our global brand, product quality, high performance, reliability and customer service. We are seeing continued gains in both solar module shipments to installers and in shipments related to our expanding project business."

Canadian Solar to develop 9 PV plants in Ontario

Canadian Solar has also updated its guidance for the fiscal year 2011, stating that it expects shipments between 1.32 and 1.33 GW, compared to its prior guidance of 1.2 to 1.3 GW.

The company notes that it recently signed agreements to develop and sell nine utility-scale PV projects in Ontario, Canada, which it says will contribute to its revenue between late 2012 and 2013.

Canadian Solar will release full 4Q 2011 results on March 7th, 2012.

2012-02-23| Courtesy: Canadian Solar | solarserver.com © Heindl Server GmbH

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