FSLR: Quick Comment on First Solar Earnings
Jim Cramer’s favorite solar play, First Solar, Inc. (FSLR) Announced 2007 First Quarter Financial Results:
Quarterly revenues were $66.9 million, up from $52.7 million in the fourth quarter of fiscal 2006 and up from $13.6 million in the first quarter of fiscal 2006.Net income for the first quarter of fiscal 2007 was $5.0 million or $0.07 per share on a fully diluted basis, compared to net income of $8.0 million or $0.11 per share on a fully diluted pro-forma basis for the fourth quarter of fiscal 2006 and a net loss of $5.9 million for the first quarter of fiscal 2006 or $(0.08) per share on a fully diluted pro-forma basis.
Nothing will get investors excited like quintupling revenues. Shares are up sharply in after hours trading. Analyst expectations of breakeven earnings on $53 million in revenues were probably sandbagging things a bit – we would expect solar installations to increase as Spring approaches relative to the fourth quarter.
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Dang, I was going to write about how great this story is pre-earnings. But now, I would just be joining the bandwagon! Thanks for the update man.
-Sam from MarketMatador.com
Sam,
Sometimes bandwagons are worth hopping on. The trick is deciding when.
Bill
Earnings are good, chart looks good – Why are the put premiums still so high OTM? What’s causing the fear that it’s going to tank in the next 1.5 months?
I’ll have a chart on my blog in a few minutes (if work would stop getting in the way).
misstrade seems to be having a blast scalping it
http://www.stockalicious.com/stock_journal/376/transactions?stock=fslr
[...] in hopes that the true value was higher. Now that the year/year growth is only triple instead of quintuple they think the odds of it being worth more than $100 require a little extra return to compensate [...]