Canadian Solar lowers Q3 guidance17. October 2011 | Industry & Suppliers, Markets & Trends | By: Becky Stuart
In line with a number of other photovoltaic companies, Canadian Solar has revised its third quarter guidance downwards, due to the continuing flat market.
While the Canadian company expects its photovoltaic module shipments to stay in line with its previous predictions, at between 350 and 360 megawatts, and despite the fact it saw a revival in customer demand at the end of the third quarter, it has significantly lowered its gross margin guidance from between nine and 12 percent to between two and five percent.
In a statement issued, Canadian Solar explained, "Management believes that demand was initially lower earlier in the third quarter as customers appear to have been waiting as long as possible before committing to purchases given continued pressure on average selling prices (ASP's) throughout the solar supply chain."
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