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First Solar restructuring leads to loss of $449M

Stephen - East Coast Wrote: May 04, 2012 6:51 PM

In the initial picture for this brief post-mortem article, the doofus-in-chief should have turned around and addressed the solar panels - they might have a longer attention span than liberals.

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First Solar restructuring leads to loss of $449M

First Solar, one of the world's biggest solar panel manufacturers, posted a loss of $449 million in the first quarter as it struggles to withstand a shakeout in the solar industry.

First Solar said Thursday that it lost $5.20 per share on revenue of $497 million. Excluding charges for a restructuring, First Solar lost 8 cents per share. Analysts had expected it to earn 58 cents per share on an adjusted basis on revenue of $691 million.

A glut of solar panels brought on by a boom in new factories and lower demand in Europe, the world's biggest solar market, has sent panel...