Canadian Solar estimates 75 pct rise in quarterly revenue

Tue Feb 11, 2014 6:27am EST

Feb 11 (Reuters) - Canadian Solar Inc estimated a 75 percent rise in its fourth-quarter revenue, driven by a better-than-expected increase in solar module shipments.

The company said revenue was expected to have risen to $510 million-$520 million in the quarter ended Dec. 31 from $294.8 million, a year earlier.

Canadian Solar estimated solar module shipments of 605 megawatt (MW) to 620 MW for the quarter, higher than its forecast of 480 MW to 500 MW given in November.