That makes two of the speculative issues we watch as market sentiment indicators (SCTY being another) that have failed in the last 24 hours. Stay tuned.
From 24/7 Wall street:
Thin-film solar PV maker First Solar Inc. (NASDAQ: FSLR) reported fourth quarter and full-year results after markets closed Tuesday. The company posted adjusted diluted earnings per share (EPS) of $0.89 and $768 million in revenues In the same period a year ago, the solar PV maker reported EPS of $0.2.04 on revenue of $1.08 billion. Fourth-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.99 and $898.25 million in revenue.
For the full year First Solar posted EPS of $4.35 on revenues of $3.31 billion compared with EPS of $4.90 and revenues of $3.37 billion in 2012. The consensus estimates called for EPS of $4.41 on revenues of $3.51 billion.
Quarterly revenues were sequentially lower due to the timing of revenue recognition for the company’s Desert Sunlight project, which boosted third quarter earnings to more than double consensus estimates.
First Solar guided first quarter 2014 revenues to sales of $800 to $900 million, compared with a consensus estimate of $898.25 million. First quarter EPS is pegged at $0.50 to $0.60, far below the consensus estimate of $0.84. That will be a huge disappointment for investors....MORE