05 Aug '11, 12am

First Solar Lowers Guidance, Market Punishes Stock: The markets did not like First Solar's earnings news one b...

The markets did not like First Solar's earnings news one bit. It's not as if the solar sector as a whole is being celebrated by the stock market but First Solar got taken down a notch after announcing its second quarter results. First Solar (Nasdaq: FSLR), the largest solar company in the world by market capitalization, just announced its financial results for the second quarter of 2011. Net sales were $533 million down from $567 million last quarter (with the street expecting about $583 million). First Solar attributed the lower sale figures due to lower ASPs and "policy uncertainty" in Italy, Germany, and France. First Solar also lowered its 2011 guidance. Guidance last quarter was for net sales in 2011 of $3.7 billion to $3.8 billion (trimmed from an upper bound of $3.9 billion), That number has been taken down even further for a guidance of $3.6 billion to $3.7 billion...

Full article: http://www.greentechmedia.com/articles/read/first-solar-l...

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