TEMPE, Ariz. (AP) _ First Solar Inc. (FSLR) on Thursday reported fourth-quarter net income of $52.1 million, after reporting a loss in the same period a year earlier.
The Tempe, Arizona-based company said it had net income of 49 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The largest U.S. solar company posted revenue of $691.2 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $803.5 million.
For the year, the company reported net income of $144.3 million, or $1.36 per share, swinging to a profit in the period. Revenue was reported as $2.24 billion.
First Solar expects full-year earnings to be $2.25 to $2.75 per share, with revenue in the range of $3.25 billion to $3.45 billion.
First Solar shares have increased 22 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 11 percent. In the final minutes of trading on Thursday, shares hit $51.95, a decline of 22 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FSLR at https://www.zacks.com/ap/FSLR