Shares of First Solar (FSLR) have had a terrible week. Shares of the solar company started the trading week on Monday around $34 per share.
From that point, shares slid away to $31 before the fourth quarter earnings release on Tuesday after the close. A poor earnings report sent shares to as low at $25-$26 on Wednesday, a level at which shares were still exchanging hands on Friday.
Fourth Quarter Results
First Solar generated fourth quarter revenues of $1.08 billion for the year ending 2012, up 63% on the year before. The strong performance was driven by an increase in revenue recognition of the Topaz project, as well as an increase in third-party module sales. Revenues were up 28% compared to the third quarter of 2012.
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