04 May '11, 3pm

First Solar’s Q1 Results: Flat Sales, EU Outlook Down: First Solar, (Nasdaq: FSLR), the largest solar company

First Solar (Nasdaq: FSLR), the largest solar company in the world by market capitalization, just announced its financial results for the first quarter of 2011. Net sales were $567 million in the quarter (Street at about $555 million), a decrease of $42.5 million from the fourth quarter of 2010. Quarterly net sales decreased slightly from $568 million in the first quarter of 2010, primarily due to lower ASPs. First Solar's margins fell amidst falling ASPs, a rarity for the firm. Shares fell 2.1 percent to $134.66 in late trading. First Solar's updated 2011 guidance: Net sales of $3.7 billion to $3.8 billion (trimmed from an upper bound of $3.9 billion) Operating income of $900 million to $970 million Last quarter's numbers for 2011 2.0 gigawatts of module production Consensus analyst market forecast of 17.6 gigawatts in 2011 with 2.4 gigawatts in North America 2.9 gigawatt...

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

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