First Solar Net Loss Narrows to $432.45 Mn in Q4

Its net sales in Q4 were $339 million, a decrease of $748 million from the previous quarter on the back of lower systems and third-party module sales.

Comprehensive PV solar systems provider, First Solar, Inc. has reported that its net loss narrowed to $432.45 million, or $4.14 per share, in the fourth quarter of 2017.

However, the net loss of the solar systems provider stood at $750.79 million, or $7.22 per share, during the same period a year ago, said First Solar in its release.

The loss in the fourth quarter was due primarily to higher tax expense associated with US tax reform enacted in December 2017 and the timing of system project sales.

Its net sales in Q4 were $339 million, a decrease of $748 million from the previous quarter on the back of lower systems and third-party module sales.

The largest US solar panel maker said that the systems revenue decreased primarily due to the sale of the California Flats and Cuyama projects in the third quarter.

Moreover, the fourth quarter net sales were slightly lower than guidance as a result of certain foreign project sales that are now expected to be recognized in 2018.