|By PR Newswire||
|August 18, 2014 09:20 AM EDT||
LONDON, August 18, 2014 /PRNewswire/ --
Investor-Edge.com has issued complimentary post-earnings coverage on Canadian Solar Inc. (NASDAQ: CSIQ). The company was featured in the headlines on Wednesday, August 13, 2014, for reporting a 64% year-over-year surge in net revenue in the second quarter of 2014. Furthermore, Canadian Solar Inc.'s operating margin improved 7.7 percentage points year-over-year, during the reported quarter. Our free coverage report can be accessed at:
During the second quarter 2014, Canadian Solar Inc.'s gross profit improved to $118.23 million from $68.61 million in Q1 2014 and $48.67 million in the prior year period, primarily due to higher module shipments, higher module average selling price, lower module manufacturing cost and higher revenue contribution from the company's total solutions business. Gross margin for the reported quarter improved to 19.0%, from 14.7% in the first quarter of 2014 and 12.8% in Q2 2013, meeting the higher end of the guidance range of 17%-19%. The global solar power company's Q2 2014 operating margin came in at 10.9% as compared to 5.7% in the previous quarter and 3.2% in the year-ago period. Solar module shipments for Q2 2014 stood at 646 MW, compared to 500 MW in the first quarter of 2014, and above the second quarter guidance range of 600 MW- 630 MW. The free research on CSIQ can be downloaded as in PDF format at:
For the quarter ended June 30, 2014, sales to the Americas contributed to 55.5% of net revenues, compared to 43.6% in prior quarter and 37.8% in Q2 2013. Europe's contribution to net revenue in the reported quarter also improved to 14.7% from 6.0% in the first quarter 2014 and 10.6% in the year ago quarter. However, share of Asia and other markets in net revenues for Q2 2014 declined to 29.8% from 50.4% in Q1 2014 and 51.6% in Q2 2013. During the quarter, Canadian Solar Inc. concluded the sale of one solar power plant in Ontario, Canada to an affiliate of Concord Green Energy, valued over C$60 million. During Q2 2014, the company also entered into an engineering, procurement and construction agreement with Kingston Solar LP, a solar energy partnership formed by Samsung Renewable Energy Inc. ("Samsung"), to construct a 140 MW DC utility-scale solar power plant. Canadian Solar Inc. expects this project to generate revenue of over C$300 for the company.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar Inc. said that the strong module demand from Japan, Germany, the UK and the US, as well as the progress in the build-out of the company's utility-scale solar projects in Canada, led to shipments and revenues topping the high end of the Company's guidance. Mr. Qu asserted that the company is making steady progress in key developing markets in Asia, the Middle East, Latin America and Africa, and continues to see robust demand for solar energy solutions products and services across all geographies and market segments. Meanwhile, Michael G. Potter, Senior Vice President and Chief Financial Officer at Canadian Solar Inc. stated that the most recent quarterly results reflect the company's focus on profitable module sales over module volume and higher margin total solutions business. He added that the company ended the quarter with $788.3 million in cash, cash equivalents and restricted cash, which provides it with an advantage as it pursues higher margin solar module and utility-scale projects opportunities in its target markets and build shareholder value. Sign up and read the free analyst's notes on CSIQ at:
Canadian Solar Inc. reported net revenue of $623.77 million for the second quarter of 2014, compared to $466.32 million in Q1 2014 and $380.38 million in the prior year period. Net income attributable to Canadian Solar in Q2 2014 stood at $55.78 million, or $0.95 per diluted share, compared to $3.78 million, or $0.07 per diluted share, in the previous quarter and net loss of $12.60 million, or $0.29 loss per diluted share in the year-ago quarter. Analysts at Bloomberg expected net income attributable to Canadian Solar of $33.73 million, or $0.57 per diluted share on net revenue of $577.67 million.
On the day of the earnings release, Wednesday, August 13, 2014, Canadian Solar Inc.'s shares rallied 24.27% to end the session at $31.03. On the last close, Friday, August 15, 2014, the stock made a further gain of 2.62% to close at $33.25. The stock vacillated between $31.83 and $33.73 during the session. A total of 7.04 million shares were traded, which was above its three months average volume of 3.53 million shares. Canadian Solar Inc.'s shares have gained 33.16% in the previous three trading sessions, 19.35% in the last one month, and 11.50% on YTD basis. The company's shares are trading above their 50-day and 200-day moving averages of $27.62 and $30.78, respectively. Canadian Solar Inc.'s stock traded at a PE ratio of 16.93 and has a Relative Strength Index (RSI) of 70.25. Visit Investor-Edge and access the latest research on CSIQ at:
Sneak Peek to Corporate Insider Trading
In the last one month, Canadian Solar Inc. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on CSIQ is available at:
At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.
5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Mar. 29, 2017 07:30 PM EDT Reads: 821
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Mar. 29, 2017 06:30 PM EDT Reads: 2,725
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Mar. 29, 2017 05:15 PM EDT Reads: 3,769
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Mar. 29, 2017 04:30 PM EDT Reads: 1,660
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 29, 2017 04:15 PM EDT Reads: 3,870
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Mar. 29, 2017 04:00 PM EDT Reads: 3,196
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost...
Mar. 29, 2017 03:15 PM EDT Reads: 325
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 29, 2017 03:15 PM EDT Reads: 2,242
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
Mar. 29, 2017 03:15 PM EDT Reads: 751
Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls "Bimodal IT," where business struggle to apply modern tools and practices to traditional monolithic applications. But these existing assets can be modernized and made more efficient without havin...
Mar. 29, 2017 03:15 PM EDT Reads: 2,646
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
Mar. 29, 2017 02:30 PM EDT Reads: 731
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
Mar. 29, 2017 02:30 PM EDT Reads: 3,840
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 29, 2017 02:30 PM EDT Reads: 2,295
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Mar. 29, 2017 02:15 PM EDT Reads: 3,296
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Mar. 29, 2017 01:30 PM EDT Reads: 2,272