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Canadian Solar meets 3Q profit forecasts

GUELPH, Ontario (AP) _ Canadian Solar Inc. (CSIQ) on Thursday reported third-quarter earnings of $13.3 million.

On a per-share basis, the Guelph, Ontario-based company said it had net income of 22 cents.

The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 22 cents per share.

The solar wafers manufacturer posted revenue of $912.2 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $818.7 million.

For the current quarter ending in December, Canadian Solar said it expects revenue in the range of $1.77 billion to $1.81 billion.

The company expects full-year revenue in the range of $4.05 billion to $4.09 billion.

Canadian Solar shares have risen 55 percent since the beginning of the year. The stock has climbed 42 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSIQ at https://www.zacks.com/ap/CSIQ