Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 First Solar Announces 4Q, Full Year 2015 Financial Results - Ink World Magazine

What are you searching for?

Sign in
Flexible Electronics News

First Solar Announces 4Q, Full Year 2015 Financial Results

Record annual net sales of $3.6 billion for 2015, with 4Q net sales of $942 million.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

First Solar, Inc. announced financial results for the fourth quarter and year ended Dec. 31, 2015. Net sales were $942 million in the quarter, a decrease of $329 million from the third quarter of 2015, and record annual net sales of $3.6 billion for 2015. The decrease in net sales from the prior quarter was primarily attributable to lower revenue from the Desert Stateline project, which achieved initial revenue recognition in the third quarter. In addition, sales of third party module and module plus offerings decreased.

The company reported fourth quarter earnings per share of $1.60, compared to $3.41 in the prior quarter. The decrease in net income from the third quarter was due to lower net sales, a decrease in gross margins and higher operating expenses.

Cash and marketable securities at the end of the fourth quarter remained at $1.8 billion. Cash flows from operations were $53 million in the fourth quarter.

“We exit 2015 with record annual revenues, record new bookings and earnings per share of over $5,” said Jim Hughes, CEO of First Solar. “As we look back to the 2015 targets first provided to investors at our Analyst Day nearly three years ago, we recognize that we have achieved the efficiency, cost per watt and earnings targets outlined at that time. We enter 2016 with tremendous technology, a strong pipeline and an ongoing commitment to achieve the long-term objectives we have communicated to our investors.”

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters