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First Solar lowers 2011 guidance and cuts jobs
By
Editorial
Fri Dec 16 2011, 09:33 AM
For the second time in two months, First Solar is cutting its full-year revenue guidance, this time to between USD2.8bn to USD2.9bn from USD3bn to USD3.3bn previously. The Arizona thin-film solar maker, which in October had a 2011 sales guidance of USD3.6bn to USD3.7bn, is citing the delay of projects due to “weather and other factors” as the primary cause. First Solar is also slashing its workforce by around 100, or 1.5%, as it restructures to adapt to pricing pressures and weak demand in the market.
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