First Solar reported quarterly sales that fell well short of what the Street was expecting, punishing the company's stock in late trading Wednesday.
The company gave a full fiscal 2009 revenue projection of between $1.98 billion to $2.03 billion—which is at the high end of the previously provided guidance range—but that wasn't enough to buoy the firm's stock.
The solar energy bellwether earned $1.79 in its third quarter on sales of $481 million, compared with $1.20 a share on sales of $349 million in the same period last year.
Analysts who follow First Solar expected the company to turn in a profit of $1.74 a share on sales of $529 million, according to a consensus from Thomson Reuters.
First Solar shares dove more than 15 percent in extended trading Wednesday. They closed at $151.58.
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