Canadian Solar ups Q4 2011 shipping guidance22. February 2012 | Industry & Suppliers, Markets & Trends | By: Becky Stuart
In a move not seen from solar companies for a while, Canadian Solar has upped its fourth quarter (Q4) 2011 shipping guidance. The photovoltaic module manufacturer did not provide preliminary financial figures, however.
Citing strong customer demand, the manufacturer says it expects module shipments to increase from the initially forecast 340 to 360 megawatts (MW) to between 430 and 440 MW. In Q2 and Q3 of 2011, Canadian Solar shipped 287 and 355 MW, respectively.
While Canadian Solar declined to go into financial specifics, the manufacturer did say it expects Q4 gross margin to be in line with prior guidance of between five and eight percent.
Shawn Qu, chairman and CEO, remarked, "We are increasing shipments to customers in key markets worldwide, while at the same time aggressively reducing our manufacturing costs ... We are seeing continued gains in both solar module shipments to installers and in shipments related to our expanding project business."
He continued, "As an illustration of our business momentum, we recently signed agreement for Canadian Solar to develop and sell nine fully-operational and commissioned utility-scale solar projects in the Province of Ontario, which are expected to contribute to the company's revenue and profitability between late 2012 and mid-2013."
In other company news, Canadian Solar has announced its sponsorship of the National Hockey League's Los Angeles Kings, located the Staples Center in downtown Los Angeles. Qu added, "The Los Angeles Kings have already made exemplary efforts in sustainability. This latest partnership highlights our commonality and provides a meaningful platform for a strong brand and renewable energy message."
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
- 2690 views
- 2400 views
- 2299 views
- 2135 views
- 1850 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!