First Solar Q3 Profit Declines; Updates FY14 Guidance - Quick Facts

(RTTNews) - First Solar, Inc. (FSLR) reported third-quarter net income of $88.42 million or $0.87 per share, compared to $195.04 million or $1.94 per share, prior year. Excluding impact of one time tax benefit, earnings per share was $0.61 for the quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.64 for the quarter. Analysts' estimates typically exclude special items.

Revenue decreased to $889.31 million from $1.27 billion last year. Analysts expected revenue of $1.05 billion for the quarter.

The company maintained its full year 2014 earnings per share guidance of $2.40 to $2.80. Net sales are currently expected to be in the range of $3.6 billion to $3.9 billion, down from prior guidance of $3.7 billion to $4.0 billion. Analysts expect the company to report 2014 earnings per share of $2.61 on revenue of $3.77 billion.