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
Shares of Telefonaktiebolaget LM Ericsson gained around 4 percent in the morning trading in Stockholm after Swedish telecom equipment maker announced Monday the departure of Hans Vestberg as its President and CEO as well as a Board member, with immediate effect. The move follows a sharp decline in its second quarter profit that triggered significant cost cut initiatives. Dutch consumer electronics giant Philips Electronics NV reported Monday significantly higher profit in its second quarter, mainly with Funai arbitration award, despite weak sales. Comparable sales growth was 3 percent with improved HealthTech portfolio, despite weakness in Lighting. The company also maintained its outlook for fiscal 2016. Jeff Bezos, the CEO of Amazon, has overtaken Berkshire Hathaway's founder Warren Buffet to become the third-richest person in the world, according to the Bloomberg Billionaires Index. Bezos is now behind clothing retailer Zara's founder Amancio Ortega, who is now second, and Bill Gates, co-founder...
comments powered by Disqus
Follow RTT