BUZZ-Canadian Solar Inc: Q4 net profit more than triples

Thu Mar 5, 2015 7:27am EST
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** Solar company's shares up 2.7 pct at $31.00 premarket

** Q4 net profit attributable to the company more than triples, helped by strong sales of solar power plants and demand for modules

** Company planning to structure and potentially list its downstream business, or power plant building business, in a yield co, says Chief Executive Shawn Qu

** Yield cos, which earn money through long-term contracts with utilities, offer cash flows that are cheaper for the parent company than taking a loan. They also provide regular dividend to investors

** Canadian Solar expects to ship 4.0-4.3 gigawatt (GW) of solar modules in 2015, compared with 3.1 GW in 2014

** Net profit attributable to the company rises to $1.28/share in Q4 from 39 cents a year earlier; revenue rises 84 pct

** Up to Wednesday's close, the company's shares had fallen 31 percent in the past 12 months