Canadian Solar Posts 1Q Loss, Lowers '09 Outlook

TORONTO (AP) — Canadian Solar Inc. on Tuesday posted a first-quarter loss due to declining average sales prices and a pull back in shipments as the uncertain financing environment constrained customer spending.

The Toronto-based solar energy product manufacturer reported a net loss of $4.8 million, or 13 cents per share, compared with earnings of $18.6 million, or 57 cents per share, in the same period last year. Excluding share-based compensation expenses, the company said its first-quarter adjusted loss would have been 10 cents per share.

Analysts polled by Thomson Reuters estimated a loss of 25 cents per share, on average. Analysts typically exclude one-time items. ...