More on First Solar: Q3 sales drop blamed on completion of Nevada project and lower construction...
Nov 1 2012, 16:28 ET
More on First Solar: Q3 sales drop blamed on completion of Nevada project and lower construction activity at Agua Caliente Arizona project. Sales guidance cut blamed on "weather-related disruptions." 2012 operating cash flow forecast lowered to $650M-$850M from prior $850M-$950M. Q3 gross margin was 28.4%, -930 bps Y/Y but +300 bps Q/Q, thanks to ongoing mix shift towards projects. Opex -16% Y/Y as restructuring efforts continue to bear fruit. FSLR now +2.6% AH. CC at 4:30PM ET (webcast). (PR) (slides - PDF)