logo
Share SHARE
FONT-SIZE Plus   Neg

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

First Solar Inc. (FSLR: Quote) 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
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
RELATED NEWS
Trade FSLR now with 
Follow RTT