First Solar Q2 Results Trounce Estimates

(RTTNews) - First Solar, Inc. (FSLR) reported net income for the second quarter of $94.5 million or $0.93 per share, compared to $4.5 million or $0.04 per share for the year-ago quarter.

The latest quarter results include a discrete tax benefit of about $42 million.

Net sales for the second quarter surged to $896.22 million from $544.35 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.36 per share on revenue of $751.72 million for the second quarter.

For the full year 2015, the company now forecasts net sales of $3.5 billion to $3.6 billion and earnings of $3.30 to $3.60 per share. Analysts currently expect the company to earn $2.36 per share on revenue of $3.44 billion for the full year 2015.