Download now: King Coal Triple Play

Westinghouse and Canadian Solar First Quarter 2012 Results

Westinghouse Up, Canadian Down in The First Quarter of 2012

Written by Stephanie Ginter
Posted May 10, 2012

Solar power system developer and manufacturer, Westinghouse Solar, Inc., announced first quarter revenue of $2.4 million today following yesterday's announcement of its merger agreement with Australian renewable energy company, CBD Energy Limited.

Total revenue was up 22 percent from quarter one of last year.

Interim CEO, Margaret Randazzo, attributes the year-over-year increase to substantial growth in the company's retail channel as a result of increased customer interest levels and improved online sales of its 'solar-in-a-box' kits sold at Lowe's Home Improvement.

The firm also reported first quarter gross profit of $242,000, accounting for 10 percent of revenue, up from 8.9 percent in fourth quarter 2011.

While Westinghouse experienced significant financial gains this past quarter, Canadian Solar Inc. announced disappointing first quarter results with net revenue down 26.5 percent from $443.4 million to $325.8 million and gross margin down from 8.7 percent in fourth quarter 2011 to 7.7 percent in the first quarter of 2012.

That's all for now,


Energy demand will increase 58% over the next 25 years.

Trillions will be spent to secure the world's energy supply over the next two decades... and all sources are on the table.

Oil, Natural Gas, Solar, Wind. There will be money made.

Follow the money trail. Sign up for Energy and Capital now--It's free.

We never spam! View our Privacy Policy

By signing up, you'll also get our latest report, Six Oil & Gas Steals.

Related Articles

Slow Q4 Leads to Mergers
Exelon will buy Constellation, while Duke is hoping to close the deal with Progress upon federal approval.

Where is the Oil Cycle?
Coal Investing Destroyed After Centuries of Dominance
Renewables Take Over
Marijuana Bank Investing
3 Guaranteed Profits: Gambling, Prostitution, and...
Russian Stocks are Cheap
Fortune Favors the Bold
Nuclear Investing After Iran Deal
Look at China
Invest in the Lithium Revolution
Lithium Demand is Going Berserk
Investing in the Tesla (NASDAQ: TSLA) Powerwall
Tesla (NASDAQ: TSLA) Just Killed Your Power Company
Tesla (NASDAQ: TSLA) Powerwall Investing
How to Make $800 Million in One Week!
Putin and Saudi Arabia: Oil Dream Team Meet
Marijuana Bank Investing
3 Guaranteed Profits: Gambling, Prostitution, and...