First Solar profit falls on impairment charge
Feb 25 (Reuters) - U.S. solar company First Solar Inc's net income fell 58 percent, hurt mainly by a charge related to a write-down of the value of an idle facility in Vietnam.
First Solar shares slumped 11 percent after the bell.
The company's net income fell to $65.2 million, or 64 cents per share, in the fourth quarter ended Dec.31, from $154.2 million, or $1.74 per share, a year ago.
Total sales fell 29 percent to $768 million, mainly due to lower revenue from its solar projects business.
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video