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First Solar reports 4Q loss

TEMPE, Ariz. (AP) _ First Solar Inc. (FSLR) on Tuesday reported a fourth-quarter loss of $719.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Tempe, Arizona-based company said it had a loss of $6.92. Earnings, adjusted for one-time gains and costs, were $1.24 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The largest U.S. solar company posted revenue of $480.4 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $391.8 million.

For the year, the company reported a loss of $358 million, or $3.48 per share, swinging to a loss in the period. Revenue was reported as $2.95 billion.

First Solar expects full-year results to range from a loss of 80 cents per share to earnings of 50 cents per share, with revenue in the range of $2.8 billion to $2.9 billion.

First Solar shares have increased 14 percent since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 6 percent. In the final minutes of trading on Tuesday, shares hit $36.62, a decrease of 42 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


Keywords: First Solar, Earnings Report