First Solar Boosting Solar-Panel Production to Meet Higher Demand

U.S. solar company First Solar Inc. (FSLR) said Wednesday that it will make more solar panels this year than earlier planned due to rising demand.

The Arizona company said it plans to make 1,800 to 1,900 megawatts of panels this year, up from its plan in May to cut production to 1,400 to 1,700 megawatts. That compares to 2,400 megawatts of production in 2011.

First Solar Chief Executive Jim Hughes said the company will make more products to meet higher-than-expected demand from customers primarily in Europe and India.

First Solar reported a second-quarter profit of $111 million, or $1.27 a share, up 82% from $61.1 million, or 70 cents a share, a year earlier. Net sales jumped 80% to $957.3 million, primarily due to an increase in the number and size of projects under construction for which revenue could be booked in the second quarter.

Share of First Solar were up 13% at $16.70 in after-hours trade.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

NATURE'S GENERATOR POWERHOUSE

NATURE'S GENERATOR POWERHOUSE

Offers a maximum power output of 120V/240V 7200Watt and can power almost anything. Whether it is 120 Volts or 240 Volts, Powerhouse can single-handedly address all your home power requirements. The Nature's Generator is a solar generator built to be used anywhere, anytime. Power is supplied by our very own Power Panels and Wind Turbines, and can be connected to your home power. We ensure a clean charge without sacrificing any power, so you can stay connected wherever life takes you.