Canadian Solar reports lower Q4 net income, provides outlook for 2016

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5 April 2016, Nuclear, Solar, Wind

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Net revenues for the fourth quarter ended December 31, 2015 were $1.12 billion, compared to $956.15 million for the same quarter ended December 31, 2014.

Net income attributable to the company for the year ended December 31, 2015 was $171.86 million, or $2.93 per diluted share, compared to $239.50 million, or $4.11 per diluted share, for the year ended December 31, 2014.

Net revenues for the year ended December 31, 2015 were $3.47 billion, compared to $2.96 billion for the year ended December 31, 2014.

"2015 was an important year of transition for Top Image Systems," stated Michael Schrader, CEO. "In response to market changes that impacted results from our core business, we are substantially revising our product portfolio through launching end-to-end on premise, cloud and hybrid FPA solutions. This will drive growth, increase profit margins, reduce service ratios and drive steady repeatable business, including high-visibility SaaS income, especially in the US. We expect our augmented investments in product and marketing in 2015 to drive revenue growth and profitability going forward."

Source: MarketLine

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