First Solar profit down 60 percent in fourth quarter

First solarBy Hayley Ringle | Phoenix Business Journal

First Solar Inc.’s fourth-quarter revenue of $768 million was lower than forecast, with profits declining almost 60 percent from the previous quarter. However, the Tempe-based solar panel manufacturer said it set a new world record for solar efficiency.

CEO Jim Hughes said the lower numbers are primarily due to several solar projects not completed as planned in 2013.

“In summary, in spite of the lumpiness of the results we have seen on a quarterly basis, this has been a tremendous result overall for the year,” Hughes said in the call.

First Solar (Nasdaq: FSLR) reported fourth-quarter income of $65.3 million, or 64 cents per share, on revenue of $768 million, for the quarter that ended Dec. 31.

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

February 2014
M T W T F S S
 12
3456789
10111213141516
17181920212223
2425262728