.gif)
.gif)
Industry News
March 9, 2010
Canadian Solar Reports Fourth Quarter and Full Year 2009 Results
Canadian Solar Inc. announced its unaudited financial results for the fourth quarter and the year ended December 31, 2009. For the fourth quarter of 2009, net revenues were $287.0 million, compared to net revenues of $68.8 for the fourth quarter of 2008 and $213.1 million for the third quarter of 2009. Net income for the fourth quarter was $14.9 million, or $0.35 per diluted share, compared to a net loss of $49.2 million, or $1.38 per diluted share, for the fourth quarter of 2008.
4Q09 shipment is 155.5 MW including 146.5 MW of module sales, approximately 6.5 MW of off-spec solar cells, and 2.5 MW of modules shipped to a solar power plant project, which the company built and sold during the quarter. The net proceeds of these project sales are classified as investment income in the profit and loss statement.
For the full year 2009, net revenues were $663.8 million, compared to $705.0 million for full year 2008. Net income for the full year 2009 was $53.1 million, or $1.41 per diluted share, compared to a net loss for the full year 2008 of $7.5 million, or $0.24 per diluted share.
Dr. Shawn Qu, Chairman and CEO, commented, "In 2009 we rebounded from net revenues of $49.5 million in the first quarter to over $287.0 million in the fourth quarter; a record for both our quarterly revenue and shipments. The rapid quarterly shipment and revenue increase we achieved is due to our world-wide market share growth and improving cost structure. We delivered products to more than 300 customers in seven core country markets and 18 secondary markets. In 2010 we expect shipments growth in ten core countries: Germany, Italy, Spain, the Czech Republic, France, the U.S., Canada, Japan, Korea and China. We are excited about our growth potential in these markets with the increasing brand recognition."
Arthur Chien, CFO of CSI, noted: "Gross profit increased significantly to more than $40 million in 4Q09, compared to a loss of nearly $30 million in 4Q08. We achieved this increase by investing in our business to support revenue growth opportunities. Accordingly there were increased sales, general and administrative expenses during the quarter, both to support increased year end shipments and to prepare ourselves for ongoing growth in sales in 2010. 4Q09 results also reflect the impact of a $5.1 million foreign exchange loss. Overall, we achieved an increase in net income for 2009 of $53.1 million compared to a loss in 2008 of $7.5 million. Both inventory days and accounts receivable days declined quarter over quarter, while our cash position, leverage ratios and balance sheet improved considerably year over year. We expect these improvements to continue into 2010."
Opinion: Bridging the Gap between Off-Grid and Grid-Tied Systems with a Grid-Hybrid Approach
Share this story
Send via E-mail
Post to Twitter
On the Web:
White Papers
March 11, 2013
Power Modules for Charger Applications
Sponsored by Vincotech
February 27, 2013
The Adaptive Cell Converter Topology Enables Constant Efficiency Over Universal Input AC Line in Front-End, High-Density Power Factor Correction Applications
Sponsored by Vicor Corp.
February 27, 2013
From 48 V direct to Intel VR12.0: Saving "Big Data" $500,000 per datacenter, per year
Sponsored by Vicor Corp.
More White Papers
- SynQor Announces Denial of Defendants' Motions for Rehearing
- Teen Wins $50,000 for Development of Nanorod Supercapacitors
- Advanced Internal Structure of New MOSFET Family Lowers On-State Resistance
- Murata Introduces Digital 420W PMBus-Compliant 1/4 Brick
- Rivals Powermat and PowerKiss to Become One
- Microgrid at Fort Bliss Commissioned as a Counter to Cyber Warfare Threat
- Eos Energy Raises $15 Million Series B Funding from Strategic Investors
- GridSTAR Net Zero Energy Demonstration Project underway at The Navy Yard
- Allegro MicroSystems Introduces 2.5A Buck Regulator with Low IQ Standby Mode
- Exar Introduces New Family of Rugged RS-485 Transceivers for the Industrial Market
- Renesas Adds IGBT Drivers with Micro-Isolator for Electric and Hybrid Vehicle Inverters
- European Project Reports Achievements in Drive to Shape the Future of Power Microelectronics
- Bosch Claims First Sub-$450 240V EV Charging Station
- 500W Full-Brick DC-DC Converter Optimized for Fuel Cell Applications
- DOE Selects Consortium to Develop Next-Generation Batteries for Automobiles
- Altera Acquires Enpirion for $140 Million, Forms Power Business Unit
- Teen Wins $50,000 for Development of Nanorod Supercapacitors
- 36V Digital Potentiometers Support Wide Signal Swings and High Power-Supply Voltages
- LG Chem Announces Plans for Start of Production of Automotive Li-Ion Batteries
- Digitally-Isolated Gate Drivers Provide Robust Drop-in Replacements for Opto-Drivers
- Green Building Power Forum 2010: Fujitsu Components America
- Darnell's Digital Power Forum 2009: CUI Incorporated
- Green Building Power Forum 2010: Anderson Power Products
- Green Building Power Forum 2010: EMerge Alliance
- Green Building Power Forum 2009: Independence Station
- Darnell's Digital Power Forum 2009: Coilcraft
- Darnell's Digital Power Forum 2009: Champs Technologies
- Darnell's Digital Power Forum 2009: EXAR Corporation
- Darnell's Digital Power Forum 2009: PMBus
- Darnell's Digital Power Forum 2009: Power Plaza
Design Features
October 22, 2012
Energy Efficiency with Class D Amplifier Modules
Class-D switching amplifiers are helping audio designers create personal multimedia devices and home audio/visual systems that demonstrate how compact and stylish equipment can also deliver high sound quality and high audio output power. The key to this breakthrough, providing freedom from the large and bulky boxes housing traditional audio products, lies in the class-D amplifier’s high energy efficiency, which is typically around 90%. This allows designers to reduce or eliminate heatsinks as well as using smaller-sized PCBs and smaller components such as transformers, connectors and power supplies.
Design Features
October 8, 2012
The Role of Hall Effect Sensors in Power Distribution Infrastructure
Power distribution units (PDUs) form an essential part of modern computing and data communications hardware. They provide multiple outputs for transferring electrical power with maximum efficiency, controlling the power capacity and safeguarding against the possible causes of supply interruption. With an ever increasing need from tech savvy consumers for higher data throughput and greater quantities of data storage capacity, as well as tough international legislation now governing CO&sub2; emissions, the demands being placed on these units are proving challenging for engineering teams to satisfy.
Product Focus
August 13, 2012
The Year in AC-DC Power Supply Technology
The past year witnessed significant new product releases, technological developments, and industry news related to the field of AC-DC Power Supply technology.