First Solar, Inc. Announces 2008 2nd Q.Results
First Solar, Inc. (Nasdaq: FSLR) today announced its financial results for the second quarter ended June 28, 2008. Quarterly revenues were $267.0 million, up from $196.9 million in the first quarter of fiscal 2008 and up from $77.2 million in the second quarter of fiscal 2007.
Net income for the second quarter of fiscal 2008 was $69.7 million or $0.85 per share on a fully diluted basis, compared to net income of $46.6 million or $0.57 per share on a fully diluted basis for the first quarter of fiscal 2008. Net income for the second quarter of fiscal 2007 was $44.4 million or $0.58 per share on a fully diluted basis, which included a one-time income tax benefit of $39.2 million that resulted from the reversal of valuation allowances against previously established U.S. deferred income tax assets.
FSLR finished neutral with most solar stocks closing lower today.
While Crude Oil continues it's down trend, after July's Historical highs, the solar industry doesn't seem to have the strength to stop the latest Bear rally.
Crude Oil:
Labels: Crude Oil, Earnings, FSLR, solarstocks
First Solar, Inc. Earnings (FSLR)
First Solar, Inc. (FSLR) earnings are coming up, 30th July
Probably the only Bullish solar stock at the moment, expect some big moves in the next days.
And interesting article about FSLR Earnings and some interesting info:
First Solar Earnings Call, First Quarter 2008The manufacturer of solar modules that lowers solar electricity costs reported revenues of $196.9 million, up 66% from $66.9 million in 2007, driving net income to $46.6 million or 57 cents per share. Gross margin was impacted by 4.1 percentage points due to price decline partially offset by foreign exchange benefits and higher overhead absorption due to incremental product shipments at a variable margin in excess of 70%.
Another interesting article about
Suntech Power:
World’s First Solar BillionaireLabels: Earnings, First Solar Inc, FSLR, Solar Billionaire, STP, Suntech Power
Suntech Power Holdings Co., Ltd. (STP and HOKU)
Hoku Solar and Suntech Power Complete Solar Installation for One of Hawaii's Largest Beverage DistributorsHoku Solar, Inc., a wholly owned subsidiary of Hoku Scientific, Inc. (NASDAQ:HOKU) and designer, engineer and installer of photovoltaic (PV) power systems, and Suntech Power Holdings Co., Ltd.(NYSE:STP) , one of the world's leading manufacturers of solar photovoltaic (PV) cells and modules, today announced the completion of a 254-kilowatt PV solar power system at the Oahu warehouse and distribution headquarters of Paradise Beverages, Inc. The system uses more than 1,540 individual Suntech modules to produce an estimated 525,000 kilowatt-hours of clean solar power each year. It is the third of three solar projects totaling 358kw of power the Hoku-Suntech team have implemented for Paradise Beverages.
Hoku Scientific and Suntech work together at multiple points in the solar supply chain. In Hawaii, Hoku deploys Suntech modules for many of its commercial installations, while Suntech has engaged Hoku to supply it with solar-grade polysilicon from its planned production facility in Pocatello, Idaho.
STP is down 6%, nearing the support, between $32 and $33. As long as the whole solar sector keeps making new relative lows, don't expect it to get a bullish rally, like the rest of the market has done in the recent days.
Keep waiting patiently for the Bulls to come, but remember the mid-term is still Bearish.
Labels: HOKU, Solar Plant, STP, Suntech Power
GT Solar International IPO (Nasdaq: SOLR)
NEW YORK (AP) - GT Solar International Inc. said in a filing with the Securities and Exchange Commission that it expects its pending initial public offering to total 30.3 million shares and price at $15.50 to $17.50 apiece.
...
Based on an offering price of $16.50, the IPO will generate about $500 million before expenses.
The company has applied to list its shares on the Nasdaq Global Market under the symbol "SOLR."
Another solar stock enters the industry. Don't have much info about the financial, but I guess it's the performance what really matters as soon as this stock starts to trading in the Nasdaq.
Labels: GT Solar International Inc., IPOs, SOLR
First Solar Opens Its First Asian Facility in Kedah
US SOLAR module maker First Solar Inc is looking to increase the local content of products made at its first Asian facility in Kedah.
Its president Bruce Sohn said yesterday that the company aims to increase its local procurement activities over time.
At present, the Kulim-based First Solar Malaysia Sdn Bhd sources less than 10 per cent of materials directly from up to three local suppliers.
"It took three years for suppliers in Germany to qualify to be our vendors for our manufacturing facility in that country where we currently source up to 50 per cent of our parts from local firms," Sohn told reporters after Kedah state executive councillor Amiruddin Hamzah opened the first of four solar module-making plants for the company at the Kulim Hi-Tech Park.
SourceLabels: First Solar Inc, FSLR, Solar Plant
First Solar Inc. new solar plant
LOS ANGELES (Reuters) - Thin film solar module maker First Solar Inc. That agreement would cover the sale of power from a 7.5 megawatt solar plant planned for Blythe, California, about 225 miles east of Los Angeles.
More news from Zacks:
Zacks Analyst Interview Highlights: ReneSola, JA Solar, Solarfun Power and Suntech Power. Zacks.com releases the latest Analyst Interview. Today's interview is with senior analyst Jon Kolb, who discusses ReneSola, Ltd. (NYSE: SOL), JA Solar (Nasdaq: JASO), Solarfun Power (Nasdaq: SOLF) and Suntech Power (NYSE: STP).
A synopsis of today's Analyst Interview is presented below. The full article can be read at http://at.zacks.com/?id=2678.
Ahead of second-quarter earnings season, what sorts of alternative energy stocks would you recommend?
Just a couple weeks back I initiated coverage on ReneSola, Ltd. (NYSE: SOL) as a Buy. The China-based company, incorporated in March 2006, is engaged in the manufacture and sale of solar wafers and related products. In April 2006, the company discontinued the sale of solar modules and concentrated on the production and sale of solar wafers.
Are you positive on the company mostly because you see strength in the solar energy industry?
Through its short history, ReneSola regularly adapted to changing market dynamics. The company is aggressively ramping up its polysilicon and solar wafer production capacities.
full articleThe S&P500 finished higher, probably ending the losing streak we had these last weeks.
Expect Solar Stocks to go higher in the next days, correcting from the lastBearish rally.
Short term
Bullish, Medium and Long term still
Bearish.
Labels: First Solar Inc, FSLR, JASO, ReneSola, Solarfun, Suntech Power
SunPower Corporation building two solar power plants
NEW YORK (Associated Press) - SunPower Corp. said Thursday that Florida Power & Light Co. hired it to build two solar power generating plants, one of which is expected to be the largest in the U.S.
SunPower will design and build a 25-megawatt plant in DeSoto County, Fla., to be completed next year, and a 10-megawatt plant at the Kennedy Space Center, to be completed in 2010. FPL will own, operate and maintain the two plants, both of which require state regulatory approval.
Cnn.comSunpower Corporation (SPWR) is moving up 12% today.
Labels: Solar Energy, Solar Plant, SPWR, SunPower Corp
SunPower Corporation Announces Second Quarter Results
SAN JOSE, Calif., July 2 /PRNewswire-FirstCall/ -- SunPower Corporation will announce its second quarter earnings in a conference call on Thursday, July 17th at 10:30 a.m. Pacific Time. The call-in number is 517-623-4618, passcode SunPower, for interested parties wanting to participate in the quarterly conference call. The event will be webcast and can be accessed from SunPower's website at http://investors.sunpowercorp.com/events.cfm.
Full text of the press release and supplemental financial information will be made available on the SunPower website at http://investors.sunpowercorp.com/events.cfm on the morning of the conference call.
Labels: Earnings, SPWR, SunPower Corp
Bearish SolarStocks
Claymore/MAC Global Solar Index (TAN) recently took a beating, as the major world indexes continue moving downward, along with the whole solar sector.
Most Solar Stocks had serious losses in the past week, and especially these last two days. Don't expect an upturn movement yet since most of the financial markets are having heavy losses across all sectors.
In case your still out of Solar Energy Stocks, the next weeks should present a good opportunity to buy, only if the present situation does not get worse.
S&P500 is now at it's lows for this year:
And the Claymore/MAC Global Solar Index (TAN) chart:
I've closed all of my solarstock's positions last week, and will watch out for a short term bottom in the next days. But it still is a risky time to get long in the market right now.
Labels: Bearish, solarstocks, SP500, TAN
