Canadian Solar Inc. has announced its first quarter financial results for the fiscal year 2010-11.

According to the firm, it has managed to revise its loss in the fourth quarter of the previous fiscal and has registered a significant profit in the first quarter of the current year.

Canadian Solar Inc. is one of the leading solar cell makers which have its presence in various parts of the globe. The firm has earned $1.5 million or 4 cents per share for the quarter that ended in 30th June, 2010. The company had suffered a loss of $4.8 million, or 13 cents per share in its corresponding quarter in the previous year.

The revenue of the company has gone up to a massive $336.9 million during the April-June quarter of fiscal year 2010-11. It was recorded $49.5 million for the same quarter in the preceding year.

In the fourth quarter last year, the firm has posted a very low net income and revenue, but now it seems that the company is back on track with the recovery in the market.