First Solar posts weak second quarter numbers, downgrades financial forecast for 2013
Tempe, USA - First Solar, Inc. reported revenue losses in the second quarter of 2013 Tuesday, upon which the financial forecast for the current year was downgraded. Net sales came in at 520 million dollars in the quarter, a decrease of 235 million from the prior quarter and a decrease of 438 million dollars from the second quarter of 2012. The sequential decrease in net sales is primarily attributable to lower systems business project revenues as well as lower module-only sales volume to third-parties. The financial results were further impacted by the fact that the company did not complete the sale of its Canadian ABW solar projects in the second quarter of 2013 and such sale is expected to occur in the second half of this year.
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Source: IWR Online, 07 Aug 2013