- First Solar's future looking bright - July 2007
- First Solar's High Tech Job Ops - September 2007
The company has also continued to reduce the average price of its solar panels, announcing earlier this year that it had broken the $1 per Watt mark for production costs.
But according to Reuters, concerns remain among some market analysts that the supplier – as well as rivals such as China's Suntech Power Holdings Co Ltd and California's SunPower Corp – could be using overly aggressive accounting methods to support their earnings growth. The worry is that their respective cash flows are starting to lag behind profit levels because they are failing to collect on revenues. This scenario means that it may not be possible to sustain current earnings growth into the long term.
It told the news agency that during the first quarter it stretched payment terms from 10 days to 45 days, bringing it more in line with the industry standard, while shipping times to Germany from its Malaysian factory were also longer than usual. The impact of this situation was fully felt in the second quarter and resulted in an additional $93 million (£56.7m) going on its books in terms of revenues owed by customers.By the early 2000s, however, the firm had successfully commercialised the technique and filed for an initial public offering in November 2006. The shares were issued at $20 (£12) each, but hit $200 (£121) within a year.
- Green Stocks Upgrade/Downgrades Roundup - "First Solar (FSLR) was downgraded from Outperform to Neutral, but shares shook off the downgrade closing up a few percent to above 150 once again."
- All aboard the carbon bandwagon - "Arizona-based First Solar is building a 2gW solar power plant in China's Inner Mongolia autonomous region, an installation that will cover more ground than Manhattan and cost $US2bn."