First Solar trims 2011 outlook, provides guidance for 2012

Dec 14, 2011 - US solar modules manufacturer First Solar Inc (NASDAQ:FSLR) today lowered its full-year outlook due to delays of certain projects driven by weather and other factors, and unveiled its projections for 2012.

The company reduced its diluted earnings per share (EPS) estimates for 2011 to USD 5.75-6 (EUR 4.41-4.60) from USD 6.50-7.50 expected earlier.

Now it anticipates revenue of USD 2.8 billion-2.9 billion and operating profit in the range of USD 575 million to USD 600 million, down from the previously seen sales of USD 3 billion-3.3 billion and operating income of USD 650 million-760 million.

First Solar said it had not included in the revised outlook expected charges related to operating cost-cutting measures and operating efficiency improvement measures.

For 2012, First Solar guided for diluted EPS of USD 3.75-4.25, revenues of USD 3.7 billion-4 billion and operating income of USD 425 million-450 million. The company also expects to generate USD 900 million to USD 1.1 billion of operating cash flows. It plans capital investment of USD 375 million-425 million.

(USD 1 = EUR 0.767)

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