Featured Articles

LG G Watch R ships in two weeks

LG G Watch R ships in two weeks

The LG G Watch R, the first Android Wear watch with a truly round face, is coming soon and judging by…

More...
LG unveils NUCLUN big.LITTLE SoC

LG unveils NUCLUN big.LITTLE SoC

LG has officially announced its first smartphone SoC, the NUCLUN, formerly known as the Odin.

More...
Microsoft moves 2.4 million Xbox Ones

Microsoft moves 2.4 million Xbox Ones

Microsoft has announced that it move 2.4 million consoles in fiscal year 2015 Q1. The announcement came with the latest financial…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 31 July 2008 07:23

First Solar Astounds Wall Street

Written by David Stellmack

Image

Q2 profit up 57 percent

First Solar, Inc., a manufacturer of solar cells, announced a jump in its quarterly profits for the second quarter of 57 percent, flabbergasting Wall Street analysts with its performance. After the announcement its shares rose 7.5 percent.

First Solar produces thin-film photovoltaic solar cells, which turn sunlight into electricity. These types of solar cells cost much less to produce than the traditional silicon-based cells that currently dominate the solar market.

First Solar, based in Phoenix, Arizona has manufacturing plants in the U.S. and Germany and another plant under construction in Malaysia that is scheduled to begin production in 2009. The new plant will have annual production capacity of 120 Megawatts, and once completed will bring First Solar’s total annual nameplate production capacity to 570 Megawatts by the end of 2009.

The company’s revenue totaled $267 million for Q2, while analysts were expecting about $217.3 million. This quarter’s revenue is about 3.5 times its revenue of $77.2 million for the same time period last year. Net income for Q2 increased to $69.7, up from $44.4 million one year ago.

First Solar announced earlier that it would supply the first two megawatts of Southern California Edison's 250-Megawatt rooftop solar generation project.

Last modified on Thursday, 31 July 2008 07:42

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments