1.78%XLF 20.53 6.48%QQQQ 45.97 2.38%
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NEW YORK (AP) - Canadian Solar Inc., which makes solar cells, on Tuesday forecast second-quarter revenue well ahead of what analysts expect for the period.
| CSIQ | 33.17 |  -0.33 |
The company, which is incorporated in Canada and conducts all its manufacturing in China, forecast second-quarter revenue in a range of $185 million to $190 million. Analysts polled by Thomson Financial, on average, expect $167.6 million.
Also Tuesday, the company reported net income for the three months ended March 31 of $19 million, or 61 cents per share, well above the 31 cents that analysts had forecast.
The results sent shares up $6.15, or 18 percent, to $40.25 in premarket electronic trading, from their close in Monday's regular session at $34.10.
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