By William Trent, CFA of Stock Market Beat
Jim Cramer’s favorite solar play, First Solar, Inc. (FSLR) Announced 2007 First Quarter Financial Results:
Quarterly revenues were $66.9 million, up from $52.7 million in the fourth quarter of fiscal 2006 and up from $13.6 million in the first quarter of fiscal 2006.Net income for the first quarter of fiscal 2007 was $5.0 million or $0.07 per share on a fully diluted basis, compared to net income of $8.0 million or $0.11 per share on a fully diluted pro-forma basis for the fourth quarter of fiscal 2006 and a net loss of $5.9 million for the first quarter of fiscal 2006 or $(0.08) per share on a fully diluted pro-forma basis.
Nothing will get investors excited like quintupling revenues. Shares are up sharply in after hours trading. Analyst expectations of breakeven earnings on $53 million in revenues were probably sandbagging things a bit – we would expect solar installations to increase as Spring approaches relative to the fourth quarter.
http://www.stockmarketbeat.com/
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
