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BRIEF-Canadian Solar raises revenue, profit guidance for Q3 2015

Published 2015-10-26, 08:11 a/m
© Reuters.  BRIEF-Canadian Solar raises revenue, profit guidance for Q3 2015
CSIQ
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Oct 26 (Reuters) - Canadian Solar Inc CSIQ.O :
* Raises shipment, revenue and gross profit guidance for the third quarter
2015, settles LDK arbitration award litigation
* Sees Q3 2015 revenue $805 million to $815 million
* For Q3, Canadian Solar now expects its total solar module shipments to be in
the range of approximately 1.18 GW to 1.23 GW
* For Q3, expects its total solar module shipments to be in the range of
approximately 1.18 GW to 1.23 GW
* Q3 gross margin expected to be at or slightly above range of 12% to 14%
* Expect to see continued robust demand levels in our solar module business"
* Co reached agreement with ldk solar co to settle legal dispute related to a
December 2012 arbitration award decision
* Canadian Solar- co will incur a cost of $20.9 mlnand ldk will waive any
rights,benefits in connection with December 2012 arbitration award decision
* Under agreement co will purchase from LDK, approximately 64.3 million pieces
of wafers at market prices over 3 year period
* To incur a charge to settle legal dispute related to December 2012
arbitration award decision in the third quarter of 2015
* Updated Q3 outlook to reflect higher than expected solar demand,sale of 51%
of 200 MW tranquillity solar power project by unit

* Source text for Eikon ID:nPn2ZQXnj

* Further company coverage CSIQ.O

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