Silicon Module Super League (SMSL) member Canadian Solar exceeded fourth quarter 2016 shipment and full-year guidance, due to strong demand at the end of the year but profitability was impacted by lower ASP’s and revised US anti-dumping and countervailing duties.
Canadian Solar reported fourth quarter 2016 revenue of US$668.4 million, up 1.7%, compared to US$657.3 million in the third quarter of 2016. Gross margin was 7.3% including an anti-dumping and countervailing duties (AD/CVD) true-up provision of US$44.1 million associated with the prior years’ module sales.
Without the US AD/CVD impact, Canadian Solar said that the gross margin would have been 13.9%, compared to 17.8% in the third quarter of 2016, and fourth quarter guidance in the range of 11.0% to 16.0%.
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