The Santa Ana, Calif.-based company attributed its strong quarter to demand for its conversion kits and systems that allow internal combustion engines to operate on gaseous fuels such as propane and natural gas.
Canadian Solar's fourth quarter impressed investors, but its first quarter really sent them to the moon. Not only did the Chinese solar cell maker double Wall Street's earnings expectations, it issued a strong second-quarter outlook. For the quarter that ended March 31, the company, which is incorporated in Canada, posted earnings of $19.0 million, or 61 cents per share, turning around from a loss of $3.9 million, or 14 cents per share, in last year's corresponding quarter. |
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