(RTTNews) -  Canadian Solar Inc. (CSIQ: News ) reported that its third-quarter net income was US$25.3 million or US$0.69 per share, compared to US$11.1 million or US$0.31 per share, for the third quarter of 2008. Net revenues for the third quarter were US$213.1 million, compared to US$252.4 million for the third quarter of 2008.

Analysts polled by Thomson Reuters expected the company to report earnings of US$0.54 per share on revenues of US$210.92 million for the quarter. Analysts' estimates typically exclude special items.

The company reiterated its fourth quarter 2009 guidance of shipments of approximately 128 MW to 138 MW, with gross margin expected to be in the high- teens on a percentage basis.

The company expects shipments of approximately 295 MW to 305 MW for the full year 2009.
For the full year 2010, the company expects shipments will be in the range of 600 MW to 700 MW.

The Company plans to increase its solar module production capacity from today's 820 MW to 1 GW by the end of April 2010, and to increase its internal cell production capacity from 420 MW to 700 MW by June 2010.

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by RTT Staff Writer

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