Canadian Solar revenue falls on weak prices

Thu Nov 15, 2012 6:07am EST

Nov 15 (Reuters) - Solar products maker Canadian Solar Inc reported a 35 percent fall in third-quarter revenue due to a steep decline in prices of panels that convert sunlight into electricity.

Net loss slightly dipped to $43.7 million, or $1.01 per share, from $43.9 million, or $1.02 per share, a year earlier.

Revenue at the Guelph, Ontario-based company, most of whose manufacturing operations are in China, fell to $326 million.

The United States last week gave final approval to duties on billions of dollars of solar equipment imports from China, compounding problems for companies such as Canadian Solar.

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