First Solar down 11% after earnings miss forecast

MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- U.S. solar-panel maker First Solar Inc. on Tuesday reported fourth-quarter earnings of 64 cents a share on net sales of $768 million. That compares to earnings of $1.74 a share in the year-ago period, on net sales of $1.08 billion. Excluding one-time items and other adjustments, First Solar earned 89 cents a share in the fourth quarter. Analysts surveyed by FactSet, who cite adjusted earnings, had expected First Solar to report earnings of 98 cents a share on sales of $973 million. The company s shares dropped 11% in after hours trading Tuesday, after ending the day up 0.5% at $58.03. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.