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First Solar, Inc.
FSLR is trading more than 5% lower in the after hours, after it posted earnings results. FSLR reported net profit of $177 million, or $2.04 per share, which is 16% higher than last year's $153 million, or $1.79 per share. Analysts expected $1.95 per share.
Net sales were $797.9 million, and in the same period last year it had $480.9, which is an increase of 66%. FSLR raised its full year profit forecast from $7.00-$7.40 per share to $7.50-$7.65 per share..
Lower gross profit margin could be the reason for the sell off in the after hours. In Q3 2009 it reported a gross profit margin of 50%, and in Q3 2010 its gross profit margin is 40%.
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