Solar planes maker First Solar Inc. (FSLR) announced that till date it has manufactured 4 GW of thin-film photovoltaic solar modules ever since the beginning of commercial production in 2002. A 4 GW generation capacity is enough solar electricity to power around two million households, displacing more than 2.5 million metric tons of carbon-dioxide emissions annually.
First Solar also announced that its second factory at Frankfurt, Germany has begun producing solar modules one month ahead of schedule. The four new production lines are still expected to start operating in its full swing by the third quarter of 2011, bringing annual capacity at the two Frankfurt factories to more than 500 megawatts.
First Solar, which is one of the world’s leading producers of photovoltaic solar modules, also has manufacturing sites in Perrysburg, Ohio and Kulim, Malaysia, as well as new plants under construction in Mesa, Arizona and Vietnam. It recently completed the production ramp at its two newest plants in Malaysia.
Based in Phoenix, Arizona, First Solar designs, manufactures and sells solar electric power modules using a proprietary thin film semiconductor technology. The company's solar modules employ a thin layer of cadmium telluride semiconductor material to convert sunlight into electricity.
First Solar recently reported first quarter robust results for 2011, with earnings per share of $1.33 smoothly sailing past the Zacks Estimate. For fiscal 2011, First Solar reaffirmed its sales guidance range of $3.7 billion – $3.8 billion. Fiscal 2011 earnings per share guidance range is also reaffirmed between $9.25 and $9.75.
First Solar’s growth story is marked by its utility-based order backlog and strong balance sheet. The company focuses on capacity build-outs, technological enhancements and cost minimization. At the same time it also enjoys technological superiority over its silicon-based solar peers.
We are currently Neutral on this Zacks #3 Rank stock. This is in line with its peers like Ascent Solar Technologies Inc. (ASTI) and JA Solar Holdings Co. Ltd. (JASO).
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