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
Microsoft's (MSFT) office assistant Cortana for iOS beta has arrived, but only 2000 people will be able to test the virtual assistant. Apple confirmed that it has bought face animation software firm Faceshift, although it was tight lipped about how it intends to use the new addition. The move is speculated as a bid to expand into virtual reality. Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016.
comments powered by Disqus
Trade FSLR now with 
Follow RTT