Wednesday, March 19, 2008

Canadian Solar sees record-making growth in 2007

BEIJING, Mar 19, 2008 (Xinhua via COMTEX) --Canadian Solar Inc. (CSI, CSIQ. Nasdaq) posted more than 300 million U.S. dollars of sales revenue in 2007, surging 344 percent from 2006, according to its latest financial report.

This makes CSI the company with the fastest growth in 2007 among its peers in the world. Notably, the company's capacity of sold solar energy components reached 83.5 MW in 2007, 4.42 times of 2006.

CSI realized buoyant growth in the development of terminal market and establishment of marketing channels.

The company realized 127.5 million U.S. dollars of sales revenue in the fourth quarter of 2007, increasing 31 percent from the previous quarter.

It's predicted that CSI would realize 150 million-155 million U.S. dollars of sales revenue in the first quarter of 2008 with shipment at 40 MW.

CSI is expected to attain 650 million-750 million U.S. dollars of sales revenue in 2008 with annual shipment totaling 200-220 MW.

The first phase of CSI Solartronics (Changshu) Co., Ltd. was put into production in February 2008 with 200 MW of designed production capacity and annual output value at 700 million U.S. dollars.

CSI's polysilicon project in central China's Luoyang is winding up with 60 MW production capacity by the end of 2008, which is expected to ease raw materials supply of CSI.

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