First Solar Earnings Face Headwinds (FSLR)

Energy

Published: May 3, 2011 4:23 pm

Last Updated: May 4, 2011 5:32 am

First Solar Inc. (NASDAQ: FSLR) is getting snubbed in the after-hours after the solar leader reported disappointing earnings. The company reported $1.33 EPS and said sales were $567.3 million. This compares to $1.40 in the fourth quarter of 2010 and down from $2.00 a year ago. In sales this represents more than a $42 million drop in sales sequentially and is down by about $1 million from the first quarter of 2010. Thomson Reuters had estimates of $1.16 EPS and $544.37 million in sales.

The company blamed the revenue miss on the allocation of modules to systems projects to meet the project contractual delivery schedules. It also noted that there were seven fewer production days in this quarter, and lastly that a full quarter impact of the pricing change was implemented in December of 2010.

It is claiming that it has a solid outlook for the year and said it is backing 2011 guidance of $9.25 to $9.75 EPS on net sales of $3.7 billion to $3.8 billion. Thomson Reuters has estimates of $9.52 EPS and $3.79 billion in revenues. The figures are expected to come to $900 million to $970 million in operating income, with cap-ex put in a range of $1.0 billion to $1.1 billion and operating cash flows of $800 million to $1.0 billion.

First Solar shares closed down by 2.1% at $134.66 today and shares were down as much as 4% to 5% originally in the after-hours. Shares are down about 1% at $133.30 in after-hours trading, and the 52-week trading range is $100.19 to $175.45.

JON C. OGG

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.