May 11, 2016 / 10:17 AM / a year ago

BRIEF-Canadian Solar Q1 earnings per share $0.39

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

* Company’s 700 mw cell manufacturing plant, located in south east asia , is expected to be commissioned in second half of 2016

* Plan to sell some assets in second half of this year

* At end of q1 of 2016, company booked approximately $1.6 billion of solar power plant assets under non-current assets

* For full year 2016, company maintains its guidance for total module shipments

* Solar power plant assets in oecd countries are expected to reach 1.1 gw by end of 2016

* Canadian solar reports first quarter 2016 results and raises annual revenue guidance

* Q1 earnings per share $0.39

* Sees fy 2016 revenue $3.0 billion to $3.2 billion

* Q1 revenue $721.4 million versus i/b/e/s view $663.7 million

* Q1 earnings per share view $0.14 -- Thomson Reuters I/B/E/S

* Sees q2 2016 revenue $710 million to $760 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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