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

posted by Ertai at 5:48 PM