August 15, 2012 / 10:53 AM / 6 years ago

CORRECTED-Canadian Solar posts loss, expects margins to drop

(Corrects throughout to clarify that the company posted a loss in the second quarter compared with a profit in the year-ago quarter)

Aug 15 (Reuters) - Canadian Solar Inc reported a loss in its second quarter and said gross margin would continue to drop in the current quarter.

It posted a net loss of $25.5 million, or 59 cents per share, for the second quarter compared with a profit of $7.1 million, or 16 cents per share, a year earlier.

The operating margin was negative 0.9 percent, compared with positive 5.2 percent a year earlier.

Solar companies have been stung by a sharp drop in panel prices over the last 18 months, which has shrunk their profit margins and forced many weaker players to close factories. (Reporting by Thyagaraju Adinarayan; Editing by Don Sebastian)

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