Edition:
India

Canadian Solar Q4 Earnings Per Share $1.81


Thursday, 21 Mar 2019 

March 21 (Reuters) - Canadian Solar Inc ::CANADIAN SOLAR REPORTS FOURTH QUARTER AND FULL YEAR 2018 RESULTS.Q4 ADJUSTED NON-GAAP EARNINGS PER SHARE $1.61.Q4 EARNINGS PER SHARE $1.81.SEES FY 2019 REVENUE $3.5 BILLION TO $3.8 BILLION.SEES Q1 2019 REVENUE $450 MILLION TO $480 MILLION.Q4 REVENUE $901 MILLION VERSUS REFINITIV IBES ESTIMATE OF $872 MILLION.Q4 EARNINGS PER SHARE ESTIMATE $1.01 -- REFINITIV IBES DATA.APPOINTMENT OF ARTHUR (LAP TAT) WONG AS AN INDEPENDENT DIRECTOR OF COMPANY, EFFECTIVE MARCH 8, 2019.FOR Q1 OF 2019, COMPANY EXPECTS TOTAL SOLAR MODULE SHIPMENTS TO BE IN RANGE OF APPROXIMATELY 1.3 GW TO 1.4 GW.APPOINTMENT OF ARTHUR (LAP TAT) WONG INCREASED SIZE OF BOARD OF DIRECTORS FROM FIVE TO SIX DIRECTORS.CANADIAN SOLAR - HAD $941.0 MILLION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH AS OF DEC 31, 2018, COMPARED TO $995.0 MILLION AS OF SEPT 30, 2018.CANADIAN SOLAR - SEES NET PROFIT FOR Q1 TO BE LOW OR NEGATIVE, DUE TO TYPICAL LOWER PRODUCTION AND SALES VOLUME DURING CHINESE NEW YEAR HOLIDAY.INVENTORIES AT END OF Q4 OF 2018 WERE $262.0 MILLION, COMPARED TO $322.0 MILLION AT END OF Q3 OF 2018.EXPECT 2019 FINANCIAL RESULTS TO BE LOWER THAN 2018.EXPECT A REBOUND IN PROJECT SALES IN 2020 AND BEYOND.CURRENTLY EXPECTS ITS NET PROFIT FOR 2019 TO BE LOWER THAN 2018.FY2019 EARNINGS PER SHARE VIEW $2.48, REVENUE VIEW $3.94 BILLION -- REFINITIV IBES DATA.