Canadian Solar posts first profit in nine quarters

Wed Nov 13, 2013 5:14am EST
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Nov 13 (Reuters) - Solar power company Canadian Solar Inc swung to a profit after eight straight quarters of losses, driven by its high-margin solar power plant business.

Net income attributable to Canadian Solar was $27.7 million, or 56 cents per share, in the third quarter, compared with net loss of $43.7 million, or $1.01 per share, a year earlier.

Revenue rose 51 percent to $490.9 million.