26.02.2015: US thin-film module producer First Solar Inc. managed a slight year-on-year increase in revenue and net income thanks to a strong fourth quarter. Revenue for the fourth quarter was up sharply year on year at $1.007 billion from $768 million a year earlier, while quarterly net income climbed to $191 million from $65 million. The strong performance in the quarter was attributed to the sale of the 150 MW Solar Gen 2 project and the collection of retention payments on the Topaz and Desert Sunlight projects. For the year, First Solar achieved revenue of $3.391 billion, up from $3.308 billion, and net income of $396 million, up from $353 million. First Solar expects to achieve net sales of $550 million to $650 million and a loss per share of $0.25 to $0.35 for the first quarter of 2015. Financial guidance for revenue earnings for the first quarter is lower relative to results in prior periods primarily due to the completion of the Desert Sunlight and Topaz projects and the retention of projects on balance sheet. These are expected to be transferred to a yieldco First Solar plans to set up with SunPower Corp. The planned yieldco, announced on Feb. 23, is expected to weigh on First Solar’s financial results in future quarters over the near-term. © PHOTON |
Monty Bannerman
ArcStar Energy
+1-646-402-5076
www.arcstarenergy.com
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