North Coast Solar Stocks

February 13, 2008

First Solar 4Q Earnings Soar

Filed under: FSLR — Tags: , , , — Jason @ 7:57 am

Wednesday February 13, 7:57 am ET

First Solar 4th-Qtr Earnings Jump, Driven by Increased Production and Lower Costs

PHOENIX (AP) — Solar modules maker First Solar Inc. said Wednesday its fourth-quarter earnings skyrocketed on increased production and lower costs.

The results, which beat Wall Street’s expectations, sent shares up $26.19, or 14.9 percent, to $201.75 in premarket trading.

The company earned $62.9 million, or 77 cents per share, compared with $8 million, or 12 cents per share, in the year-ago quarter.

Analysts expected profit of 53 cents per share on revenue of $179.6 million, according to a poll by Thomson Financial.

Revenue in fact almost quadrupled to $200.8 million, from $52.7 million in the 2006 period.

First Solar said full production capacity at its German plant, with increased efficiency and lower manufacturing costs, helped earnings.

For the full-year, the company posted profit of $158.4 million, or $2.03 per share, compared with $4 million, or 7 cents per share, in 2006.

Revenue jumped to $504 million, from $135 million a year earlier.

Analysts predicted earnings of $1.19 per share on sales of $483.4 million for the year.

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