First Solar, Inc. (FSLR) Monday reported first-quarter profit of $59.14 million or $0.66 per share, compared to a loss of $449.42 million or $5.20 per share in the comparable quarter last year.
Adjusted earnings for the quarter was $61.51 million or $0.69 per share. On average, 18 analysts polled by Thomson Reuters expected the company to earn $0.75 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased to $755.21 million from $497.06 million last year. Analysts expected revenues of $725.26 million.
Looking ahead, the company maintains its full-year earnings target range of $4.00 to $6.00 per share, with sales projected in the range of $4.2 billion to $4.8 billion. Analysts currently expect the company to earn $4.27 per share on revenues of $3.84 billion.
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