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Last updated on April 25, 2014 at 1:22 EDT

Canadian Solar Reports Higher Q2 Revenues

August 14, 2008

Photovoltaic systems developer Canadian Solar has reported that net revenues were $212.6 million for the second quarter ended June 30, 2008, compared to $60.4 million for the same period of 2007.

The company reported net income of $10.5 million or $0.36 per diluted share for the second quarter ended June 30, 2008, compared to a net loss of $2.9 million or $0.11 per diluted share for the same quarter of 2007.

The company reported a net income of $29.5 million or $1.01 per diluted share for the first half of 2008, compared to a net loss of $6.72 million or $0.25 per diluted share for the same period of 2007. Net revenues were $383.82 million for the first half of 2008, compared to $77.9 million for the same period of 2007.

Shawn Qu, chairman and CEO of Canadian Solar, said: “It has been a very solid and eventful quarter for the company, with progress on all fronts. This marks our fifth consecutive quarter of sequential quarter-to-quarter top line growth. During this period we have also improved our margins.”