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Tuesday, July 22, 2014
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Published: Wednesday, 5/7/2014 - Updated: 2 months ago

BUSINESS BRIEF

First Solar profits rise 89% in 1st quarter 2014

BLADE STAFF

TEMPE, Ariz. — First Solar Inc., the largest U.S. solar manufacturer, reported first-quarter profit was up 89 percent, largely from higher revenue related to its 139-megawatt Campo Verde solar farm in California.

Net income rose to $112 million, or $1.10 a share, from $59.1 million, or 66 cents a share, a year earlier, the company said Tuesday after the market closed. Sales increased to $950.2 million from $755.2 million.

The company’s stock has gained 23 percent this year.

First Solar was born in Toledo. Its only U.S. manufacturing facility is in Perrysburg Township.



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