First Solar (NASDAQ:FSLR) is trading so well after-earnings that it might be thought of as "First Stellar." The solar company posted net income of $46.0 million, or $0.58 EPS after a $0.09 tax benefit. FirstCall had estimates at $0.19 EPS and revenues at $120 million.
The company said that it successfully completed the ramp of a German production facility well ahead of schedule. That afforded highly leveraged growth during the quarter and gave customers additional production volumes in a "continued robust demand environment."
Unfortunately no guidance was offered. Without guidance we will hold off any formal ruling, although with an outperformance of this sort it is hard to imagine the numbers were all caught up by analysts.
Shares closed down 1% at $167.12 today, but shares are up 14% at $190.00 in after-hours trading.
Jon C. Ogg
November 7, 2007
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