Stock Monitor: Altair Engineering Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 6, 2018 / Active-Investors.com has just released a free earnings report on First Solar, Inc. (NASDAQ: FSLR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FSLR. The Company posted its financial results on February 08, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Altair Engineering Inc. (NASDAQ: ALTR), which also belongs to the Technology sector as the Company First Solar. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, First Solar most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended December 31, 2017, First Solar reported net sales of $339.18 million, which came in above the $330.80 million recorded at the end of Q4 FY16. However, the Company's net sales numbers for the reported quarter missed market forecasts of $433.8 million.
The comprehensive photovoltaic (PV) solar systems maker reported a net loss of $432.45 million, or $4.14 loss per diluted share, in Q4 FY17 compared to a net loss of $750.79 million, or $7.22 loss per diluted share, in Q4 FY16. Meanwhile, the Company posted a non-GAAP net loss of $26.1 million, or $0.25 loss per diluted share, in Q4 FY17, which came in lower than Wall Street's expectations for a non-GAAP net loss of $0.32 per diluted share.
For the full year FY17, First Solar's net sales came in at $2.94 billion, rising from $2.90 billion in FY16. The Company's net loss stood at $165.62 million, or $1.59 loss per diluted share, in FY17 versus a net loss of $416.11 million, or $4.05 loss per diluted share, in FY16. Moreover, the Company reported a non-GAAP net loss of $272.6 million, or $2.59 loss per share, in FY17.
For the three months ended December 31, 2017, the Company reported the cost of sales of $277.11 million compared to $322.95 million in Q4 FY16. The Company's gross profit improved to $62.07 million in Q4 FY17 from $7.85 million in the prior year's same quarter.
During the reported quarter, the Company's research and development (R&D) expenses came in at $23.58 million versus $29.47 million in the last year's comparable quarter. The Company's selling, general, and administrative costs (SG&A) were $55.00 million in Q4 FY17 versus $70.37 million in Q4 FY16. The Company's total operating expenses came in at $97.14 million in the reported quarter compared to $829.00 million in Q4 FY16. The Company reported an operating loss of $35.07 million in Q4 FY17 compared to $821.15 million in Q4 FY16.
Cash Flow and Balance Sheet
During the full fiscal year ended December 31, 2017, the Tempe, Arizona-based Company generated $1.34 billion in cash from operations versus $206.75 million in the fourth quarter of the fiscal year 2016. The Company had cash and cash equivalents of $2.27 billion as on December 31, 2017, compared to $1.35 billion as on December 31, 2016. Furthermore, the Company's long-term debts stood at $380.47 million as on December 31, 2017, compared to $160.42 million as on December 31, 2016.
In its guidance for FY18, First Solar raised its net sales outlook to a range of $2.45 billion to $2.65 billion from its previous outlook range of $2.3 billion to $2.5 billion. The Company's operating income is forecasted to be between $130 million and $180 million, and earnings per share to be in the band of $1.50 to $1.90 for FY18.
Stock Performance Snapshot
April 05, 2018 - At Thursday's closing bell, First Solar's stock climbed 2.07%, ending the trading session at $71.64.
Volume traded for the day: 900.60 thousand shares.
Stock performance in the last month – up 6.21%; previous three-month period – up 2.64%; past twelve-month period – up 167.11%; and year-to-date – up 6.10%
After yesterday's close, First Solar's market cap was at $7.31 billion.
Price to Earnings (P/E) ratio was at 31.17.
The stock is part of the Technology sector, categorized under the Semiconductor - Specialized industry. This sector was up 0.3% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.