BRIEF-Canadian Solar Q1 earnings per share $0.39

Wed May 11, 2016 6:15am EDT
 
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May 11 (Reuters) - Canadian Solar Inc :

* Q1 total solar module shipments were 1,198 mw, of which 1,172 mw were recognized in revenue, compared to 1,398 mw in q4

* Raises revenue guidance for 2016 reflecting expectation to sell more solar power plants in h2 year

* For q2 of 2016, company expects total module shipments to be in range of approximately 1,200 mw to 1,250 mw

* Recorded a gain on change in fair value of derivatives of $2.7 million in q1 of 2016

* Foreign exchange gain in q1 of 2016 was $8.5 million

* Company's wafer manufacturing capacity at its luoyang plant, henan province , is expected to reach 1.0 gw by june of 2016

* For full year 2016, company maintains its guidance for total module shipments to be in range of approximately 5.4 gw to 5.5 gw

* Inventories at end of q1 of 2016 were $413.2 million , compared to $334.5 million at end of q4   Continued...