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Canadian Solar Inc. Announces Drop In Q2 Bottom Line,but beats estimates

Canadian Solar Inc. (CSIQ) revealed earnings for second quarter that decreased from last year.

The company's profit totaled $11.26 million, or $0.18 per share. This compares with $20.60 million, or $0.34 per share, in last year's second quarter.

Analysts had expected the company to earn -$0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 104.3% to $1.43 billion from $0.70 billion last year.

Canadian Solar Inc. earnings at a glance:

-Earnings (Q2): $11.26 Mln. vs. $20.60 Mln. last year.
-EPS (Q2): $0.18 vs. $0.34 last year.
-Analysts Estimate: -$0.30
-Revenue (Q2): $1.43 Bln vs. $0.70 Bln last year.

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