First Solar, Inc Earnings

FSLR is up 15% after the Earnings Release:

First Solar, Inc. announced that for fiscal 2010, it expects net sales of $2.6-$2.7 billion, reflecting reallocation of module capacity from its systems business to meet stronger module demand by its European customers. Earnings per fully diluted share (EPS) are projected in the range of $6.80 to $7.30 and include $0.09-0.10 per share dilution for the pending acquisition of NextLight Renewable Power, LLC. According to Reuters Estimates, analysts on an average are expecting the Company to report revenues of $2.7 billion and EPS of $6.29 for fiscal 2010. The First Solar Board of Directors has approved an additional four line manufacturing plant with an annual capacity of over 220 MW at the first quarter 2010 line run-rate. The plant is expected to begin production in the fourth quarter of 2011.

Labels: Earnings, First Solar Inc, FSLR, Solar Stocks

posted by Ertai at 10:18 AM