Canadian Solar Swings To Loss (LIWA, CSIQ, HNR, CTL, TSLA)
Lihua International Inc (NASDAQ:LIWA) reported first-quarter net income of $11.5 million, or $0.38 per share, as compared to $12.5 million, or $0.41 per share in the same quarter last year. On a non-GAAP basis, quarterly net income was $11.8 million or $0.39 per share. Sales increased 23.5% to $169.1 million from $136.9 million last year, resulting from a rise in volume due to continued demand across all of Lihua’s product categories and the addition of copper rod sales following the company’s capacity expansion.
Canadian Solar Inc. (NASDAQ:CSIQ) reported first quarter loss of $21.3 million, or $0.49 a share, as compared with a year-earlier profit of $5.9 million, or $0.13 a share. Revenue slumped 27% to $325.8 million. Analysts expected a loss of 52 cents a share on revenue of $361 million. Gross margin narrowed to 7.7% from 14.7% as selling prices continued to decline. The company in March predicted margins between 5% and 8% for the quarter.
Looking ahead, the company predicted shipments of 430 megawatts to 450 megawatts for the current quarter and backed its guidance of 1,800 megawatts to 2,000 for the year.
Harvest Natural Resources, Inc. (NYSE:HNR) reported a first quarter loss of approximately $1.4 million, or $0.04 per share, as compared to earnings of $1.1 million, or $0.03 per share, for the same period last year. Adjusted first quarter 2012 earnings were $7.9 million, or $0.23 per diluted share.
Looking forward, the company expects fiscal 2012 average production rate of 40,300 BOPD.
CenturyLink, Inc. (NYSE:CTL) stock increased 0.47% to $38.30 in the after hour trading after the company reported first-quarter GAAP net income of $200 million or $0.32 a share, as compared to $211 million or $0.69 a share in the year ago period. Adjusted net income was $423 million or $0.68 a share for the quarter. Operating revenues were $4.61 billion, as compared to $1.70 billion in first quarter 2011. This increase was primarily due to $2.7 billion and $266 million of revenue contributions from the Qwest acquisition completed April 1, 2011 and the Savvis acquisition completed July 15, 2011, respectively. Analysts expected the company to report earnings of $0.58 per share on revenues of $4.61 billion for the quarter.
Tesla Motors Inc (NASDAQ:TSLA) stock gained 5.66% to $31.76 in the after hour trading after the company reported first-quarter net loss of $89.87 million or $0.86 per share, as compared to $48.94 million or $0.51 per share in the same quarter last year. Non-GAAP net loss widened to $79.32 million or $0.76 per share from $41.59 million or $0.44 per share in the prior year period. Total revenues for the quarter dropped to $30.17 million from $49.03 million in the comparable quarter last year. Analysts expected the company to earn $0.69 per share on revenues of $32.00 million for the quarter.