Canadian Solar Reports Higher Shipments, Losses In Second Quarter


Canadian Solar Inc. says photovoltaic module shipments and net revenue were up in the second quarter of this year (Q2'13) as compared with the first quarter (Q1'13). Losses were also higher compared with the previous quarter, although they were lower than in the second quarter of 2012 (Q2'12).

According to its released results, solar module shipments were 455 MW in Q2'13 compared to 340 MW in Q1'13. Solar module shipments to Japan were 35.7% of total module shipments in Q2'13, up 95% from Q1'13.

Net revenue was $380.4 million for the second quarter compared to $263.6 million in the first.

By geography, Canadian Solar's reported Q2'13 sales to European markets represented 10.6% of net revenue, sales to Canada and the U.S. represented 37.8% of net revenue, and sales to Asia and all other markets represented 51.6% of net revenue, compared to 24.7%, 17.9% and 57.4%, respectively, in Q1'13 and 69.4%, 15.7% and 14.9%, respectively, in the second quarter of 2012 (Q2'12).

Net loss attributable to Canadian Solar in Q2'13 was $12.6 million compared to net loss of $4.4 million in Q1'13, and net loss of $25.5 million in Q2'12.

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