Canadian Solar lifts full-year revenue outlook

NEW YORK—Canadian Solar Inc. on Wednesday lifted its 2008 revenue guidance and offered an outlook for the third quarter above Wall Street's estimates.

The solar module maker now expects full-year revenue of $850 million to $970 million. Previously, the company guided for $750 million to $870 million.

Analysts polled by Thomson Reuters expect revenue of $908.9 million for the year.

For the third quarter, Canadian Solar anticipates income, excluding one-time items, of $24 million to $25 million. It expects revenue of $245 million to $255 million.

Analysts expect third-quarter income of $19.2 million on revenue of $247.6 million. Such estimates typically exclude one-time items.

Canadian Solar also said it swung to a second-quarter profit on Wednesday.

In premarket trading, Canadian Solar shares fell $2.79, or 9 percent, to $28.12. they closed at $30.91 on Tuesday.