First Solar (NASDAQ: FSLR) reported Q4 EPS of $1.24, $0.27 better than the analyst estimate of $0.97. Revenue for the quarter came in at $480 million versus the consensus estimate of $412.76 million.

• Cash and marketable securities of $2.0 billion, net cash of $1.8 billion
• Maintain Non-GAAP 2017 EPS guidance

“Despite the difficult restructuring decisions that we undertook in the fourth quarter, we ended the year with strong operational results,” said Mark Widmar, CEO of First Solar. “Our best line exited the quarter running above 16.9% conversion efficiency, and for the full year our fleet averaged 16.4% efficiency, an 80 basis point improvement over the prior year. From a financial perspective we delivered full year non-GAAP earnings per share of $5.17, exceeding our guidance for the year. We ended the year with $1.8 billion of net cash and are well positioned as we move forward with our Series 6 transition.”

The Company updated its 2017 revenue guidance, operating expenses and earnings per share as reflected in the following table. The revised net sales guidance incorporates the final structuring of the Moapa project sale, which allowed for full revenue recognition on the project, while the revised operating expenses guidance reflects the timing of certain restructuring charges that are now anticipated in 2017.

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