news digest ♦ Solar
demonstrated the ability to integrate our flexible photovoltaics with appropriate power management systems into a feature- rich small unmanned aircraft system enabling extended mission flight time and, as a result, enhanced mission flexibility. More importantly, the photovoltaic modules integrated into the wings represent a lightweight version of our production materials, and as such, are immediately available,” continues Armstrong.
“The Silent Falcon’s unprecedented performance and value is ready for the market place as we transitioned from prototype and commenced low rate initial production,” adds John Brown, President of SFUAS. “Our sales teams are targeting domestic, Latin America and the Asia Pacific region.”
Silent Falcon UAS Technologies was established in 2010 to introduce disruptive technological UAV innovation to global defence, intelligence and national security agencies, the domestic public safety agency market and U.S.-based private security contractors. The company is headquartered in Albuquerque, New Mexico.
First Solar Q1 results shining bright
Net sales went up from $755 million in Q1 2013 to $950 million in Q1 2014
First Solar, Inc. has announced financial results for the first quarter of 2014. Net sales were $950 million in the quarter, an increase of $182 million from the fourth quarter of 2013. The sequential increase in net sales is primarily attributable to achieving revenue recognition on our Campo Verde project.
The company reported first quarter GAAP net income per fully diluted share of $1.10, compared to $0.64 in the prior quarter. The increase in net income compared to the prior quarter was primarily due to higher net sales, project cost improvements, and lower restructuring and asset impairment charges.
increasing full-year 2014 guidance as follows:
Gross Margin percentage of 17-18 percent, compared to prior guidance of 16-18 percent
Operating Income of $290 to $340 million, compared to prior guidance of $270 to $320 million
Earnings per fully diluted share guidance of $2.40 to $2.80, compared to prior guidance of $2.20 to $2.60
Operating cash flow guidance of $300 - $500 million, compared to prior guidance of $250 - $450 million
«In the first quarter we demonstrated significant progress towards achieving the financial and operational targets we outlined at our recent Analyst Day,» said Jim Hughes, CEO of First Solar. «We delivered strong earnings in the first quarter and are increasing our financial guidance for the year based on these results. We have also made significant progress in new bookings and continue to execute on our technology roadmap.»
First Solar held a conference call to discuss this announcement. A replay of the webcast will be available on the Investors section of the company›s web site and will remain available for approximately 90 calendar days.
First Solar to build 42.76MW
for EDF Renewable Energy The firm has been selected for two CdTe projects in California
First Solar has been chosen as the turnkey Engineering, Procurement and Construction (EPC) contractor for two projects under development by EDF Renewable Energy in California.
First Solar and EDF Renewable Energy have signed EPC agreements for the 19.76 Megawatt (MW) AC CID Solar Project, located in Kings County; and the 23MWAC Cottonwood Solar Project, consisting of two sites, one located in Kings County and the other in Kern County.
The CID Solar Project has a Power Purchase Agreement (PPA) with Pacific Gas and Electric Company. The Cottonwood project has a PPA with Marin Clean Energy.
“We are proud to be selected by EDF Renewable Energy as a builder of choice,” says Christopher Houghton, First Solar’s Senior Manager of US Business Development. “With these projects, First Solar continues to bring value to customers counting on our proven experience and reliability in providing cost-effective energy solutions.”
Cash and marketable securities at the end of the first quarter were approximately $1.4 billion, a decrease of approximately $385 million compared to the end of the fourth quarter of 2013. Cash flows used in operations were $318 million in the first quarter. The use of cash in the quarter is primarily related to ongoing construction of projects which have not yet been sold.
Based on the results of the first quarter the company is 96
www.compoundsemiconductor.net June 2014
Both CID Solar and Cottonwood projects will be built with First Solar’s Series 3 Black Plus PV thin-film solar modules, and will provide enhanced grid reliability and stability using the company’s advanced PV plant controls.
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