Shares of First Solar, Inc. (NASDAQ: FSLR) have surged in after-hours trading, following the first-quarter results reported by the company. In its first-quarter, First Solar has reported a profit of $172.3 million, or $2 per share, compared with a profit of $164.6 million, or $1.99 per share it reported for the same period last year.
Revenue surged by 36% to $568 million in the quarter. Analysts surveyed by Thomson Reuters were on average expecting First Solar to report a profit of $1.63 per share and revenue of $541 million. Gross margin declined by 660 basis points to 49.7% in the quarter.
Shares of First Solar, Inc. are up by 6.93% to $137.01 in after-hours trading.
www.benzinga.com
First Solar (FSLR) Surges In After-Hours Trading
Wednesday, April 28, 2010
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Business and Finance,
Economy
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Though they handily beat the estimates and guidance , lack of decrease in their costs and inflexibility in adding capacity to demand increases compared to crystalline solar customers are a concern.
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