First Solar Misses Street Estimates; Lowers Guidance

First Solar

released its fiscal Q4 earnings results after the closing bell on Tuesday. The Tempe, Arizona based company reported earnings per share of $1.26 which came in well below Street expectations of $1.54. Revenues for the quarter were $660.00 million compared to Wall Street consensus estimates of $781.55 million. First Solar also lowered their forward looking guidance. The company now sees fiscal 2012 sales between $3.5 to $3.8 billion compared to previous revenue guidance of between $3.7 to $4.0 billion for fiscal 2012. At last check, FSLR shares were halted, but the stock will likely be under pressure when it re-opens in Tuesday's after hours trading session.