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First Solar, Inc. Message Board

  • finplan95 finplan95 Apr 24, 2013 4:18 PM Flag

    In 20 yrs of trading I never saw an earnings release "revised" like the last one here. Never.

    To review:

    fSLR announces year end earnings with a miss on top line ( by 20%) and takes down 1st quarter sales and profits by 22%. However, they can make no further comment on anything beyond quarter 1 but they do have time to do an analyst meeting. 27 days later-with no news and every solar company missing-FSLR comes out at the meeting and takes numbers back up +20% and then announces sales for next 2 years. This despite having less then 35% of these sales actually signed. Upon this announcment the stock pops 70% in 15 days. Mgt admits margins are dropping to the tune of 4 to 5% a year and upon further review of the newly announced upgrade on sales it is discovered that two projects scheduled for 2014 are moved to 2013 to make numbers. Meanwhile, ldk,stp both are tetering on bankruptcy. It doesnt add up. How can you declare 3 years of sales with 8 months of signed contracts?

    Its like somebody from Enron is running things....oh wait a minute. 20 million shares short going into that mysterious restatement. FSLR has made comments before about losing deals because of how short the stock was relative to outstanding shares. Probably nothing. I almost forgot-the Head of Global sales left right before this mysterious re-statement. Probably didnt want the bonuses coming for these big sales increases.

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