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continue to migrate away from 2” substrates towards larger wafers. Mr. Parvez added, “We expect increased orders for 6” polished wafers in the second half of the year and are gearing up our polishing operation to accommodate the increased demand.”
Q2 2010 Outlook
William Weissman, Rubicon’s CFO said, “Demand remains strong and we estimate revenue for the second quarter will increase to approximately $14.0 million. We expect diluted earnings per share of approximately $0.14, based on a projected diluted share count of 21.5 million share.”
First Solar, Inc. Announces First Quarter 2010 Financial Results
* Net Sales $568 million
* EPS $2.00 per fully diluted share * Increased 2010 EPS guidance to $6.80-$7.30 per diluted share
* Board of Directors approves an additional four line factory
First Solar which manufactures solar modules with advanced semiconductor technology and provides photovoltaic (PV) system solutions announced its financial results for the first quarter ended March 27, 2010.
Quarterly net sales were $568.0 million, a 36% increase from $418.2 million in the Q1 2009. The increase was attributed mainly due to strong PV module demand and more production but was partially offset by a decline in pricing.
Q1 2010 net sales declined $73.3 million from the fourth quarter of 2009 supposedly due to a shift from turnkey system sales to module sales.
The first quarter 2010 net income was $172.3 million or $2.00 per fully diluted share, up from the prior year of $164.6 million or $1.99 per
fully diluted share, which included a $0.14 per share one-time tax benefit related to the tax holiday. Net income for the first quarter was up from $141.6 million or $1.65 per fully diluted share for the fourth quarter 2009 because of higher volumes, increased module prices and the absence of certain non-recurring expenses.
The First Solar Board of Directors has approved an additional four line manufacturing plant with an annual capacity of over 220 MW at the first quarter 2010 line run-rate. The plant is expected to begin production in the fourth quarter of 2011.
For 2010, First Solar forecasts net sales of $2.6 to $2.7 billion, reflecting reallocation of module capacity from our systems business to meet stronger module demand by our European customers. Earnings per fully diluted share are projected in the range of $6.80 to $7.30, and include $0.09-0.10 per share dilution for the pending acquisition of NextLight Renewable Power, LLC. Total capital spending is projected to be $625 to $650 million. The company expects to generate $725 to $775 million of operating cash flow. First Solar has posted its First Quarter Earnings Call Presentation, which includes guidance for fiscal 2010 and additional details regarding the key assumptions relating to this guidance, in the Investor section of its website at
http://www.firstsolar.com.
TriQuint mint it with Q1 revenue up 52%
It’s a Triple celebration with the firm’s 25th Anniversary this year and with Mobile Device and Network revenue growing by 63% and 42% respectively in Q1 2010.
U.S. firm Triquint Semiconductor who produce advanced RF solutions based on GaAs and GaN technologies for customers worldwide announces its financial results for the quarter ended April 3rd, 2010.
•Revenue for the first quarter was $180.8 million, an increase of 52% from Q1 2009
June
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