Financial Statements for Canadian Solar Inc.

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Canadian Solar Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31	3 months ending 2011-12-31
Revenue	294.84	325.96	348.22	325.80	474.06
Other Revenue, Total	-	-	-	-	-
Total Revenue	294.84	325.96	348.22	325.80	474.06
Cost of Revenue, Total	279.97	318.70	305.05	300.75	432.68
Gross Profit	14.87	7.27	43.17	25.05	41.38
Selling/General/Admin. Expenses, Total	103.22	38.39	42.78	35.48	57.89
Research & Development	3.13	3.38	3.46	3.03	5.01
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	-	-	-	-
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	386.32	360.46	351.30	339.26	495.57
Operating Income	-91.48	-34.50	-3.08	-13.46	-21.52
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-0.68	-0.42	-0.04	-0.13
Other, Net	-	-	-	-	-
Income Before Tax	-107.33	-45.15	-23.44	-23.84	-43.31
Income After Tax	-104.04	-43.35	-25.54	-21.39	-59.58
Minority Interest	-0.12	-0.32	0.07	0.05	-0.31
Equity In Affiliates	-0.83	-	-	-	-
Net Income Before Extra. Items	-104.98	-43.67	-25.47	-21.34	-59.89
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	-104.98	-43.67	-25.47	-21.34	-59.89
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	-104.98	-43.67	-25.47	-21.34	-59.89
Income Available to Common Incl. Extra Items	-104.98	-43.67	-25.47	-21.34	-59.89
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	43.24	43.21	43.16	43.16	43.16
Diluted EPS Excluding Extraordinary Items	-2.43	-1.01	-0.59	-0.49	-1.39
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	-	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	-2.43	-1.01	-0.59	-0.49	-1.39

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	1,294.83	1,898.92	1,495.51	630.96
Other Revenue, Total	-	-	-	-
Total Revenue	1,294.83	1,898.92	1,495.51	630.96
Cost of Revenue, Total	1,204.47	1,716.64	1,266.74	552.86
Gross Profit	90.36	182.28	228.77	78.11
Selling/General/Admin. Expenses, Total	219.88	155.61	101.63	68.41
Research & Development	13.00	19.84	6.84	3.18
Depreciation/Amortization	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	0.00	3.00	0.00
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	1,437.35	1,892.09	1,378.21	624.45
Operating Income	-142.52	6.83	117.30	6.51
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	0.00	0.21	1.79
Other, Net	-	-	-	0.00
Income Before Tax	-198.62	-74.36	67.58	21.48
Income After Tax	-193.19	-90.90	50.83	22.78
Minority Interest	-0.31	0.10	-0.26	-0.13
Equity In Affiliates	-1.97	-	-	-
Net Income Before Extra. Items	-195.47	-90.80	50.57	22.65
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	-195.47	-90.80	50.57	22.65
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	-195.47	-90.80	50.57	22.65
Income Available to Common Incl. Extra Items	-195.47	-90.80	50.57	22.65
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	43.19	43.08	43.68	37.73
Diluted EPS Excluding Extraordinary Items	-4.53	-2.11	1.16	0.60
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	-	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	-4.53	-2.11	1.21	0.57

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31	As of 2011-12-31
Cash & Equivalents	141.97	318.97	329.68	393.32	343.99
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	141.97	318.97	329.68	393.32	343.99
Accounts Receivable - Trade, Net	270.11	273.28	278.33	305.78	363.38
Receivables - Other	-	-	-	-	-
Total Receivables, Net	284.60	282.63	295.94	329.56	380.36
Total Inventory	274.46	317.79	343.76	389.89	296.57
Prepaid Expenses	137.04	81.52	87.72	61.37	56.53
Other Current Assets, Total	604.14	463.83	438.81	232.49	218.13
Total Current Assets	1,442.20	1,464.75	1,495.92	1,406.63	1,295.58
Property/Plant/Equipment, Total - Gross	-	-	-	-	-
Accumulated Depreciation, Total	-	-	-	-	-
Goodwill, Net	0.00	0.49	2.64	2.63	2.26
Intangibles, Net	22.96	22.95	27.04	22.17	22.32
Long Term Investments	26.73	12.18	9.95	10.29	11.01
Other Long Term Assets, Total	297.78	339.03	318.84	42.40	38.57
Total Assets	2,259.31	2,316.51	2,348.31	1,991.13	1,879.81
Accounts Payable	466.67	464.49	438.57	391.80	177.44
Accrued Expenses	-	-	-	-	-
Notes Payable/Short Term Debt	858.93	890.57	927.66	861.88	875.26
Current Port. of LT Debt/Capital Leases	-	-	-	-	-
Other Current liabilities, Total	214.66	125.62	205.44	101.48	183.75
Total Current Liabilities	1,540.25	1,480.67	1,571.68	1,355.15	1,236.45
Long Term Debt	214.56	225.14	137.25	89.30	89.20
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	214.56	225.14	137.25	89.30	89.20
Total Debt	1,073.49	1,115.71	1,064.91	951.18	964.45
Deferred Income Tax	56.15	66.44	64.25	-	0.00
Minority Interest	10.68	10.52	10.03	5.25	1.04
Other Liabilities, Total	101.60	97.44	92.79	91.16	87.18
Total Liabilities	1,923.25	1,880.21	1,875.99	1,540.87	1,413.87
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	502.56	502.56	502.47	502.40	502.40
Additional Paid-In Capital	-38.30	-39.49	-41.01	-52.51	-53.33
Retained Earnings (Accumulated Deficit)	-224.16	-119.18	-75.51	-50.03	-28.69
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	95.96	92.41	86.37	50.40	45.56
Total Equity	336.06	436.30	472.32	450.26	465.93
Total Liabilities & Shareholders' Equity	2,259.31	2,316.51	2,348.31	1,991.13	1,879.81
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	43.16	43.16	43.16	43.16	43.16

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	141.97	343.99	288.65	160.11
Short Term Investments	-	-	-	-
Cash and Short Term Investments	141.97	343.99	288.65	160.11
Accounts Receivable - Trade, Net	270.11	400.52	171.01	151.55
Receivables - Other	-	-	-	-
Total Receivables, Net	284.60	417.49	213.31	191.04
Total Inventory	274.46	296.57	272.10	164.31
Prepaid Expenses	137.04	56.53	70.83	59.13
Other Current Assets, Total	604.14	181.00	189.78	179.39
Total Current Assets	1,442.20	1,295.58	1,034.66	753.99
Property/Plant/Equipment, Total - Gross	-	632.15	394.72	249.00
Accumulated Depreciation, Total	-	-122.08	-64.26	-31.86
Goodwill, Net	0.00	2.26	0.00	-
Intangibles, Net	22.96	22.32	16.07	12.54
Long Term Investments	26.73	11.01	5.67	7.10
Other Long Term Assets, Total	297.78	38.57	36.50	47.94
Total Assets	2,259.31	1,879.81	1,423.37	1,038.70
Accounts Payable	466.67	177.44	115.85	92.53
Accrued Expenses	-	-	-	-
Notes Payable/Short Term Debt	858.93	875.26	550.49	356.92
Current Port. of LT Debt/Capital Leases	-	-	-	-
Other Current liabilities, Total	214.66	183.75	108.99	65.49
Total Current Liabilities	1,540.25	1,236.45	775.33	514.94
Long Term Debt	214.56	89.20	70.36	30.16
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	214.56	89.20	70.36	30.16
Total Debt	1,073.49	964.45	620.85	387.08
Deferred Income Tax	56.15	-	-	-
Minority Interest	10.68	1.04	0.66	0.28
Other Liabilities, Total	101.60	87.18	42.69	27.60
Total Liabilities	1,923.25	1,413.87	889.04	572.99
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	502.56	502.40	501.15	500.32
Additional Paid-In Capital	-38.30	-53.33	-57.39	-61.27
Retained Earnings (Accumulated Deficit)	-224.16	-28.69	62.11	11.54
Treasury Stock - Common	-	-	-	-
Other Equity, Total	95.96	45.56	28.46	15.12
Total Equity	336.06	465.93	534.33	465.72
Total Liabilities & Shareholders' Equity	2,259.31	1,879.81	1,423.37	1,038.70
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	43.16	43.16	42.89	42.77

In Millions of USD (except for per share items)	12 months ending 2011-12-31
Net Income/Starting Line	-90.90
Depreciation/Depletion	56.12
Amortization	-
Deferred Taxes	-4.63
Non-Cash Items	53.34
Changes in Working Capital	46.20
Cash from Operating Activities	60.12
Capital Expenditures	-205.42
Other Investing Cash Flow Items, Total	11.84
Cash from Investing Activities	-193.58
Financing Cash Flow Items	0.47
Total Cash Dividends Paid	-
Issuance (Retirement) of Stock, Net	1.26
Issuance (Retirement) of Debt, Net	176.02
Cash from Financing Activities	177.75
Foreign Exchange Effects	11.05
Net Change in Cash	55.34
Cash Interest Paid, Supplemental	46.35
Cash Taxes Paid, Supplemental	30.93

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Net Income/Starting Line	-90.90	50.83	22.78	-7.53
Depreciation/Depletion	56.12	31.27	20.51	9.28
Amortization	-	-	-	-
Deferred Taxes	-4.63	-5.18	-10.83	-0.98
Non-Cash Items	53.34	12.02	40.15	39.92
Changes in Working Capital	46.20	-147.42	-21.69	-37.50
Cash from Operating Activities	60.12	-58.49	50.92	3.19
Capital Expenditures	-205.42	-134.31	-72.21	-104.82
Other Investing Cash Flow Items, Total	11.84	0.33	-162.35	-20.94
Cash from Investing Activities	-193.58	-133.99	-234.57	-125.76
Financing Cash Flow Items	0.47	0.15	-0.53	-2.47
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	1.26	0.82	104.02	114.69
Issuance (Retirement) of Debt, Net	176.02	311.66	124.68	89.14
Cash from Financing Activities	177.75	312.63	228.17	201.36
Foreign Exchange Effects	11.05	8.39	-0.07	-0.79
Net Change in Cash	55.34	128.54	44.45	77.99
Cash Interest Paid, Supplemental	46.35	21.21	10.73	11.10
Cash Taxes Paid, Supplemental	30.93	13.64	4.37	2.68