Free Research Report as First Solar Reported Q4 FY17 and Full Year FY17 Financial Results

Stock Monitor: Altair Engineering Post Earnings Reporting

LONDON, UK / ACCESSWIRE / April 6, 2018 / Active-Investors.com has just released a free earnings report on First Solar, Inc. (NASDAQ: FSLR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FSLR. The Company posted its financial results on February 08, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Altair Engineering Inc. (NASDAQ: ALTR), which also belongs to the Technology sector as the Company First Solar. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, First Solar most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=FSLR

Earnings Highlights and Summary

For the three months ended December 31, 2017, First Solar reported net sales of $339.18 million, which came in above the $330.80 million recorded at the end of Q4 FY16. However, the Company’s net sales numbers for the reported quarter missed market forecasts of $433.8 million.

The comprehensive photovoltaic (PV) solar systems maker reported a net loss of $432.45 million, or $4.14 loss per diluted share, in Q4 FY17 compared to a net loss of $750.79 million, or $7.22 loss per diluted share, in Q4 FY16. Meanwhile, the Company posted a non-GAAP net loss of $26.1 million, or $0.25 loss per diluted share, in Q4 FY17, which came in lower than Wall Street’s expectations for a non-GAAP net loss of $0.32 per diluted share.

For the full year FY17, First Solar’s net sales came in at $2.94 billion, rising from $2.90 billion in FY16. The Company’s net loss stood at $165.62 million, or $1.59 loss per diluted share, in FY17 versus a net loss of $416.11 million, or $4.05 loss per diluted share, in FY16. Moreover, the Company reported a non-GAAP net loss of $272.6 million, or $2.59 loss per share, in FY17.

Operating Metrics

For the three months ended December 31, 2017, the Company reported the cost of sales of $277.11 million compared to $322.95 million in Q4 FY16. The Company’s gross profit improved to $62.07 million in Q4 FY17 from $7.85 million in the prior year’s same quarter.

During the reported quarter, the Company’s research and development (R&D) expenses came in at $23.58 million versus $29.47 million in the last year’s comparable quarter. The Company’s selling, general, and administrative costs (SG&A) were $55.00 million in Q4 FY17 versus $70.37 million in Q4 FY16. The Company’s total operating expenses came in at $97.14 million in the reported quarter compared to $829.00 million in Q4 FY16. The Company reported an operating loss of $35.07 million in Q4 FY17 compared to $821.15 million in Q4 FY16.

Cash Flow and Balance Sheet

During the full fiscal year ended December 31, 2017, the Tempe, Arizona-based Company generated $1.34 billion in cash from operations versus $206.75 million in the fourth quarter of the fiscal year 2016. The Company had cash and cash equivalents of $2.27 billion as on December 31, 2017, compared to $1.35 billion as on December 31, 2016. Furthermore, the Company’s long-term debts stood at $380.47 million as on December 31, 2017, compared to $160.42 million as on December 31, 2016.

Outlook

In its guidance for FY18, First Solar raised its net sales outlook to a range of $2.45 billion to $2.65 billion from its previous outlook range of $2.3 billion to $2.5 billion. The Company’s operating income is forecasted to be between $130 million and $180 million, and earnings per share to be in the band of $1.50 to $1.90 for FY18.

Stock Performance Snapshot

April 05, 2018 – At Thursday’s closing bell, First Solar’s stock climbed 2.07%, ending the trading session at $71.64.

Volume traded for the day: 900.60 thousand shares.

Stock performance in the last month – up 6.21%; previous three-month period – up 2.64%; past twelve-month period – up 167.11%; and year-to-date – up 6.10%

After yesterday’s close, First Solar’s market cap was at $7.31 billion.

Price to Earnings (P/E) ratio was at 31.17.

The stock is part of the Technology sector, categorized under the Semiconductor – Specialized industry. This sector was up 0.3% at the end of the session.

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