Shares of First Solar FSLR are bid higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are bid $36.40, at $36.43; they ended the regular session higher by 0.75%, at $36.40.
First Solar reported Q4 EPS of $1.26 on revenues of $2.77 billion. The GAAP loss was $4.78 per share. Revenues increased by 9.25% year over year.
"First Solar's performance in the quarter was impacted by an aggressive competitive environment, an uncertain regulatory environment, warranty-related charges, and restructuring costs incurred to help position our business for the future," said Mike Ahearn, Chairman and interim Chief Executive Officer of First Solar.
"Despite these headwinds, we continue to make strides reducing manufacturing costs, increasing module efficiency, and successfully building out our captive project pipeline. These improvements, combined with our recent restructuring and strategic repositioning, enhance our competitive position in a very challenging environment."
The company sees 2012 adjusted EPS in the range of $3.75-4.25. It is reducing its net sales estimate from $3.7-4.0 billion to $3.5-3.8 billion.
First Solar, Inc. manufactures and sells solar modules with an advanced thin-film semiconductor technology. First Solar designs, constructs, and sells photovoltaic solar power systems.
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