Officials at Canadian Solar Inc., Ontario, Canada, announced financial results of the company, August 17, for the second quarter ended June 30, 2011.
Highlights include:
- Solar module shipments were 287 MW, up 58.6 percent from 181 MW in the second quarter of 2010
- Net revenue was $481.8 million, up 46.6 percent from $328.7 million in the second quarter of 2010
- Gross profit was $63.7 million, up 42.8 percent from $44.6 million in the second quarter of 2010
- Gross margin was 13.2 percent, compared to 13.6 percent in the second quarter of 2010
- Operating profit was $25.0 million, up 47.1 percent from $17.0 million in the second quarter of 2010
- Net income attributable to Canadian Solar Inc. was $7.1 million, up 121.9 percent from $3.2 million in the second quarter of 2010
- Diluted earnings per share were $0.16, up from $0.07 in the second quarter of 2010.
