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Thursday, July 30, 2009

O Arizona: What's Our Most Abundant Natural Resource Besides Human Stupidity? Sunlight!

First Solar Inc. posted record net income and revenue again in the second quarter, despite what officials describe as a tightening market because of the lack of credit.

Credit markets loosened in the second quarter slightly, helping push First Solar net income to $181 million, or $2.11 per share. That’s well ahead of the $69.6 million it garnered in the same quarter of 2008.

Revenue hit $525 million for the quarter, almost doubling the $267 million it earned in the second quarter of 2008.

Credit markets started to unfreeze in the second quarter, but it was still difficult getting money into projects First Solar has ongoing throughout the world, said Mike Ahearn, the company’s chairman and CEO.

“If we compare where we sit today, where we are now, to where we were last quarter, it’s more favorable, but we’re looking at driving a lot more demand in the second half of the year,” he said.

link: First Solar sees record income, revenue despite tight markets - Phoenix Business Journal:


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