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May 10th, 2012 
FAKE NEWS for the Zionist agenda (Reuters) – Canadian Solar Inc posted a smaller-than-expected loss as it cut costs, and the company said shipments and margins were improving in the current quarter due to a pick-up in demand.
The U.S. solar industry installed a record number of panels in 2011, more than double that of 2010, and is likely to see strong growth again this year, according to a report released by GTM Research and the Solar Energy Industries Association (SEIA).
Canadian Solar, which makes solar cells and modules, expects second-quarter shipments of 430 megawatt (MW) to 450 MW. The shipments were 343 MW in the first quarter.
The company, based in Guelph, Ontario, forecast gross margins of 8 percent to 10 percent for the current quarter, compared with 7.7 percent in the first quarter.
Net loss attributable to Canadian Solar was $21.3 million, or 49 cents a share For the quarter ended March 31, compared with a profit of $5.9 million, or 13 cents a share last year.
Analysts on average had expected a loss of 52 cents a share, according to Thomson Reuters I/B/E/S.
Cost of goods sold fell 20 percent, while general and administrative expenses dropped 8 percent.
Solar companies have sought to reduce production costs to improve profit and make the renewable power source less reliant on government subsidies.
Canadian Solar’s shares, which have lost about 67 percent of their value in the last year, closed at $3.21 on Wednesday on the Nasdaq.
(Reporting by Swetha Gopinath in Bangalore; Editing by Maju Samuel)
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