25 Feb '17, 4pm

First Solar Posts Biggest-Ever Loss as Revenue Slides from PennWell

First Solar Inc. slumped the most in three months after reporting its biggest-ever loss and cutting its earnings forecast. The largest U.S. panel maker fell 5.9 percent to $34.45 on Feb. 21 in New York after earlier sliding as much as 7.2 percent, the most intraday since Nov. 17. The shares have tumbled 46 percent in the past year. First Solar posted a record net loss of $719.9 million for the fourth quarter, according to a statement Tuesday. The Tempe, Arizona-based company said operating expenses will be higher this year than it had previously expected and earnings will be lower. The loss is largely because of a restructuring plan announced in November. First Solar scrapped plans to introduce a new panel design this year, the Series 5, while firing 1,600 workers and retooling its factories to produce the Series 6 starting in mid-2018. The move came as a global oversupply...

Full article: http://www.renewableenergyworld.com/articles/2017/02/firs...

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renewableenergyworld.com 23 Feb '17, 12pm

First Solar Inc. slumped the most in three months after reporting its biggest-ever loss and cutting its earnings forecast....

via @CleanTechnica

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