First Solar (FSLR) Beats & Raises, But Shares In The Red

First Solar (FSLR) beat estimates by a wide margin after the bell today, posting an EPS of 1.84 vs the analyst estimate of 1.60 on revenues of $588 million vs the analyst estimate of $542 million.  However, it represents the first quarter in which FSLR has posted decelerating quarter over quarter profit growth in many years if ever.  While revenues maintained growth jumping about 10% over the year ago quarter, profits fell about 13% over the year ago quarter.  It would appear the growth days are over for the time being. 

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The company is raising EPS guidance for the full year 2010 from $6.80 – $7.30 to $7.00 – $7.40.  Analysts expect $7.12 for the full year.  Assuming they hit the top end of their range around $7.40, that would just get them even to what they posted in 2009.  They see revenues in the range of $2.5 – 2.6 billion.

I’ll likely have more on FSLR tomorrow once the analyst and CEO comments come in.

The stock is trading down just a bit in after hours trading. 

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