UPDATE: Canadian Solar Swings To Q1 Loss

Canadian Solar Inc

swung to a loss in the first quarter. Net loss attributable to Canadian Solar came in at $21.3 million, or $0.49 per share, versus a year-ago profit of $5.9 million, or $0.13 per share. Its revenue dropped 26.5% to $325.8 million. Canadian Solar's gross margins fell to 7.7% from 14.7%. Canadian Solar shares closed at $3.21 yesterday.