Toledo Talk

First Solar

October 2009 stories

First Solar has become the first pure-play renewable energy company to make it to the Standard & Poor 500 Index, despite on-going concerns that the solar energy sector will struggle to maintain current growth rates. Although the recession has caused its stock price to drop, First Solar has consistently exceeded revenue and earnings expectations, reporting that sales more than doubled last year to more than $1.2 billion.

The company has also continued to reduce the average price of its solar panels, announcing earlier this year that it had broken the $1 per Watt mark for production costs.

But according to Reuters, concerns remain among some market analysts that the supplier as well as rivals such as China's Suntech Power Holdings Co Ltd and California's SunPower Corp could be using overly aggressive accounting methods to support their earnings growth. The worry is that their respective cash flows are starting to lag behind profit levels because they are failing to collect on revenues. This scenario means that it may not be possible to sustain current earnings growth into the long term.

It told the news agency that during the first quarter it stretched payment terms from 10 days to 45 days, bringing it more in line with the industry standard, while shipping times to Germany from its Malaysian factory were also longer than usual. The impact of this situation was fully felt in the second quarter and resulted in an additional $93 million (56.7m) going on its books in terms of revenues owed by customers.

By the early 2000s, however, the firm had successfully commercialised the technique and filed for an initial public offering in November 2006. The shares were issued at $20 (12) each, but hit $200 (121) within a year.
  • All aboard the carbon bandwagon - "Arizona-based First Solar is building a 2gW solar power plant in China's Inner Mongolia autonomous region, an installation that will cover more ground than Manhattan and cost $US2bn."
created by jr on Jul 12, 2007 at 11:16:52 am
updated by jr on Oct 20, 2009 at 11:25:36 am
    Comments: 2

source      versions      backlinks

Comments ... #

First Solar is booming, Stocks are up. Too bad they have a charge of Racial Discrimination filed against them with the EEOC
They Hired an African American man against policy when he could not pass the required test. Yet , not the white people who could not pass the test. They also terminated a white worker with three forklft incidents yet kept the Black man with the same number of incidents. We recently received an email from a man terminated from a rumor stating he was selling mushrooms on the work floor. He states he was not yet was terminated. This company needs a Good Strong UNION to stop some of the shinanigans going on there. They have an "AT WILL" POLICY Which means they think they can treat employees anywat they want to with no regard to their civil rights.

posted by upset on Apr 24, 2008 at 01:26:31 pm     #  

Excerpts from an Apr 30, 2008 NY Times op-ed titled Dumb as We Wanna Be by Thomas L. Friedman :

It is great to see that we finally have some national unity on energy policy. Unfortunately, the unifying idea is so ridiculous, so unworthy of the people aspiring to lead our nation, it takes your breath away.

While all the presidential candidates were railing about lost manufacturing jobs in Ohio, no one noticed that America’s premier solar company, First Solar, from Toledo, Ohio, was opening its newest factory in the former East Germany — 540 high-paying engineering jobs — because Germany has created a booming solar market and America has not.

It is also alarming, says Rhone Resch, the president of the Solar Energy Industries Association, that the U.S. has reached a point “where the priorities of Congress could become so distorted by politics” that it would turn its back on the next great global industry — clean power — “but that’s exactly what is happening.” If the wind and solar credits expire, said Resch, the impact in just 2009 would be more than 100,000 jobs either lost or not created in these industries, and $20 billion worth of investments that won’t be made.

In 1997, said Resch, America was the leader in solar energy technology, with 40 percent of global solar production. “Last year, we were less than 8 percent, and even most of that was manufacturing for overseas markets.”

The McCain-Clinton proposal is a reminder to me that the biggest energy crisis we have in our country today is the energy to be serious — the energy to do big things in a sustained, focused and intelligent way. We are in the midst of a national political brownout.

posted by jr on May 03, 2008 at 03:43:02 pm     #