UPDATE 2-Canadian Solar outlook catches winter chill, shares fall

Wed Mar 5, 2014 11:20am EST
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* Expects 1st-qtr revenue of $415-$430 mln vs est $517.8 mln

* 4th-qtr profit $0.39/shr vs loss of $2.43/shr year earlier

* Revenue up 76 pct at $519.5 mln

* Shares fall as much as 10 pct

March 5 (Reuters) - Canadian Solar Inc forecast weaker-than-expected revenue for the first quarter and blamed severe winter in North America for delays in construction of power plants, sending its shares down 10 percent.

Canadian Solar, which is pushing into the high-margin business of building solar power plants, joins rivals Trina Solar Ltd and JinkoSolar Holding Co Ltd in warning of a drop in current-quarter shipments from the fourth.

The company, which reported its second straight quarterly profit after nine quarter of losses, said about $100 million in revenue from some of its utility-scale projects in Canada was delayed due to the severe winter.

Canadian Solar said it expects to recognize this revenue in the second and third quarters of 2014.

The company forecast shipments of 470-490 megawatts (MW) of solar panels in the first quarter, lower than the 621 MW it shipped in the fourth.   Continued...