logo
Share SHARE
FONT-SIZE Plus   Neg

First Solar Slips To Loss In Q4; Backs FY12 Profit View - Quick Facts

First Solar Inc. (FSLR) reported that its fourth-quarter net loss was $413.11 million, compared to net income of $155.94 million in the same quarter last year.
Fourth quarter net loss per share was $4.78, compared to a net income of $1.80 in the fourth quarter of 2010.

Excluding these items, the non-GAAP net income per share in the fourth quarter 2011 was $1.26.

Fourth quarter 2011 net sales were $660 million, a decrease of $345 million from the third quarter of 2011, primarily due to the timing of revenue recognition in our systems business and lower volume for module-only sales.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.54 per share on revenues of $781.55 million for the quarter. Analysts' estimates typically exclude special items.

The company lowered its fiscal 2012 net sales guidance to a range of $3.5 billion -$3.8 billion, from the prior outlook of $3.7 billion -$4.0 billion.

The company reiterated its fiscal 2012 earnings per share guidance in a range of $3.75 to $4.25, excluding any impairment and restructuring charges that the company may be taking in 2012. Analysts expect the company to report earnings of $4.14 per share on revenues of $3.77 billion for fiscal 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
IT services provider Computer Sciences Corp (CSC), on Tuesday reported a profit for the third quarter that also trumped estimates, helped largely by lower operating costs that offset 10 percent drop in revenues. Commenting on the results Mike Lawrie said, "In the third quarter, CSC successfully completed... Entertainment giant Walt Disney Co. (DIS) Tuesday reported an increase in first-quarter profit that also trumped Wall Street expectations, as revenues jumped 14 percent on stupendous performance of Star Wars: The Force Awakens. Burbank, California-based Disney's first-quarter profit rose to $2.88... Media conglomerate Viacom, Inc. on Tuesday reported a 10 percent decline in profit for the first quarter from last year, reflecting lower revenues in the Filmed Entertainment and Media Networks segments. However, adjusted earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates.
comments powered by Disqus
RELATED NEWS
Trade FSLR now with 
Follow RTT