Boston, MA 02\/26\/2014 (wallstreetpr) –\u00a0First Solar, Inc. (NASDAQ:FSLR)<\/b>, one of the largest solar panels markers of the world and the giant of the U.S. solar energy industry can sometimes be a source of bad news. And it was in the most recent quarter.<\/p>\n
First and foremost, the company is best known for its record extraction of electricity through sunlight. The efficiency of the brand of solar panels it manufactures is also admirable. However, what is not very attractive, so to speak, is its profit.<\/p>\n
Unpopular performance results<\/b><\/p>\n
The company has announced profits that declined almost 60 percent from what it reported in the previous year. The profit in the most recent quarter came in at $65.3 million, reflecting 64 cents a share. But in the same quarter a year ago, First Solar, Inc. (NASDAQ:FSLR) reported earning profit of $154.2 million, meaning $1.74 per share.<\/p>\n
So then, what happened to profit figures this time around? The company mentioned that the $25 million in restructuring charges was to be blame for the huge slump in profit in the latest quarter. Perhaps that should mean that the next quarter and the subsequent ones would be better if such charges are avoided.<\/p>\n
Revenue in the just reported quarter came in the region of $768 million, indicating about 29 percent decline from the $1.075 billion revenue realized in the same quarter of 2012.<\/p>\n
While First Solar, Inc. (NASDAQ:FSLR) ended up with earnings per share of 64 cents and revenue figures of $768 million, analysts on their part had hoped that the company would end up with earnings of 99 cents and revenue of $965 million.<\/p>\n
The 2013 full-year results were $353 million profit or $3.77 a share. That compared with $96 million loss or $1.11 per share loss that First Solar, Inc. (NASDAQ:FSLR) experienced in 2012.<\/p>\n
Business going forward<\/b><\/p>\n
First Solar, Inc. (NASDAQ:FSLR) is pleased with the manner in which its business is unfolding. The company is not just completing its projects in good pace, but it is also getting more orders coming almost at the same pace it is completing projects.<\/p>\n
Among the concerns that the company is addressing in its production is cost per watt and efficiency. In 2013 the average cost per watt was 63 cents. That was lower than the 70 cents average cost per watt that was posted in 2012.<\/p>\n
Equally important for First Solar, Inc. (NASDAQ:FSLR) management is improving the efficiency of its brand panels. The company set a new efficiency record with its panels manufactured using<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 02\/26\/2014 (wallstreetpr) –\u00a0First Solar, Inc. (NASDAQ:FSLR), one of the largest solar panels markers of the world and the giant of the U.S. solar […]<\/p>\n","protected":false},"author":32,"featured_media":16086,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3522,3523],"stock_ticker":[],"class_list":["post-16067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-first-solar-inc-nasdaqfslr","tag-nasdaqfslr","entry"],"acf":[],"yoast_head":"\n