First Solar, Inc. (FSLR) Tops Q4 EPS by 28c, Sales Light; Q1 EPS/Sales Below Views

February 26, 2013 4:04 PM EST
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(Updated - February 26, 2013 4:34 PM EST)

First Solar, Inc. (NASDAQ: FSLR) reported Q4 EPS of $2.04, $0.28 better than the analyst estimate of $1.76. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.33 billion.

First Solar, Inc. sees Q1 2013 EPS of $0.70-0.90, versus the consensus of $0.94. The company sees Q1 2013 net sales of $650-$750 million versus the consensus of $828.95 million.

"Despite a very challenging market environment, we continued to make meaningful progress in all critical value drivers for the Company," said Jim Hughes, CEO of First Solar. “We exceeded our module and balance-of-systems cost reduction targets for 2012, as announced in December 2011, further increased module efficiency and field performance, and achieved several key objectives in our strategy to develop and service new sustainable energy markets. We expect the market will remain turbulent for some time to come, but we have seen some evidence of improvement and believe we have the right strategy in place to retain our industry leadership by providing the best value for our customers.”

For earnings history and earnings-related data on First Solar, Inc. (FSLR) click here.

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