First Solar Beats On Earnings, But Misses On Sales

MarketWatch Pulse

First Solar Inc. said Thursday that third-quarter net income was $88.4 million, or 87 cents a share, compared with $195 million, or $1.94 a share, for the same period a year ago. Reporting after the close, the Tempe, Ariz.-based solar power provider said sales were $889 million against last year's $1.27 billion. Income was ahead of the 63-cent prediction from analysts polled by FactSet. The company said net income for the year should reach $2.40 to $2.80 a share, in line with the $2.60 prediction from FactSet. First Solar shares ended trading in Thursday's regular session up marginally to $56.41, then fell after hours to $56.06.

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