Briefing.com reports that Canadian Solar reports Q2 results, beats on revs; guides Q3 revs in-line; guides FY08 revs in-line Reports Q2 earnings of $0.36 per share, includes one-time non-cash debt conversion charge of $10.2 million, may not be comparable to the First Call consensus of $0.47; revenues rose 24.2% year/year to $212.6 million vs the $206.8 million consensus. Co issues in-line guidance for Q3, sees Q3 revs of $245-255 million vs. $247.63 million consensus. Co issues in-line guidance for FY08, sees FY08 revs of $850-970 million vs. $908.93 million consensus. "Based on current sales and supply agreements and market forecasts, we reiterate our 2009 shipment target of 500 – 550MW. The 2009 target includes about 400 MW of regular solar modules and 100 – 150 MW of e- Modules." "Shipments for Q308 are expected to be approximately 60 MW."

The stock is currently down $1.87 from Tuesday’s close.