First Solar, Inc. (NasdaqGS: FSLR) announced its financial results for 1Q08, reporting earnings that beat Wall Street expectations.
Net income for 1Q08 was $46.6 million or $0.57 per share, compared to net income of $62.9 million or $0.77 per share for 4Q07. Net income for 1Q07 was $5.0 million or $0.07 per share.
Analysts surveyed by Thomson Financial forecast first-quarter earnings of 47 cents per share on revenue of $183.6 million.
Quarterly revenues were $196.9 million, more than double 1Q07 figure of $66.9 million, but down from $200.8 million in the 4Q07.
About First Solar:
First Solar, Inc. manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.
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