FIRST SOLAR, INC. (FSLR, Financial) filed Annual Report for the period ended 2010-12-31.
First Solar Inc. has a market cap of $13.35 billion; its shares were traded at around $155.72 with a P/E ratio of 20.28 and P/S ratio of 5.21. Hedge Fund Gurus that owns FSLR: Bruce Kovner of Caxton Associates, Paul Tudor Jones of The Tudor Group, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns FSLR: Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jeremy Grantham of GMO LLC.
As of December 31, 2010, the Supply Contracts in the aggregate allowed for approximately $2.4 billion (€2.1 billion denominated in euro at an assumed exchange rate of $1.15/€1.00) in sales from 2011 to 2012. As of December 26, 2009, the Supply
Contracts in the aggregate allowed for approximately $4.0 billion (€3.3 billion denominated in euro at an assumed exchange rate of $1.15/€1.00 and $0.2 billion denominated in USD) in sales from 2010 to 2013. The above-referenced dollar amounts relating to the Supply Contracts decreased from 2009 to 2010, primarily due to revenue recognized for contracted volumes sold in 2010, module pricing adjustments, the impact of the rebate program implemented in 2009, as described above, pre-set price reductions under the terms of the Supply Contracts, and the termination of a five-year agreement through 2013 with a solar power system project developer and system integrator in the United States, which was a related party.
We provide a limited warranty against defects in materials and workmanship under normal use and service conditions for five years following delivery to the owners of our solar modules. We also warrant to the owners of our solar modules that solar modules installed in accordance with agreed-upon specifications will produce at least 90% of their power output rating during the first 10 years following their installation and at least 80% of their power output rating during the following 15 years. In resolving claims under both the defects and power output warranties, we have the option of either repairing or replacing the covered solar module or, under the power output warranty, providing additional solar modules to remedy the power shortfall. Our warranties are automatically transferred from the original purchasers of our solar modules to subsequent purchasers. As of December 31, 2010, our components business' accrued warranty liability was $26.5 million, of which $9.8 million was classified as current and $16.7 million was classified as noncurrent. As of December 26, 2009, our components business' accrued warranty liability was $21.9 million, of which $7.6 million was classified as current and $14.4 million was classified as noncurrent.
In addition to our solar module warranty described above, for solar power plants built by our EPC team, we typically provide a limited warranty against defects in workmanship, engineering design, and installation services under normal use and service conditions for a period of one year following the substantial completion of a solar power plant or an energized section of a solar power plant. In resolving claims under both the workmanship and design warranties, we have the option of either remedying the defect to the warranted level through repair, refurbishment, or replacement. As of December 31, 2010 and December 26, 2009, our systems business' accrued warranty liability was $1.4 million and $0.7 million, respectively, all of which was classified as current.
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First Solar Inc. has a market cap of $13.35 billion; its shares were traded at around $155.72 with a P/E ratio of 20.28 and P/S ratio of 5.21. Hedge Fund Gurus that owns FSLR: Bruce Kovner of Caxton Associates, Paul Tudor Jones of The Tudor Group, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns FSLR: Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
The aggregate market value of the registrant’s common stock, $0.001 par value per share, held by non-affiliates of the registrant on June 26, 2010, the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $5,252,343,971 (based on the closing sales price of the registrant’s common stock on that date). Shares of the registrant’s common stock held by each officer and director and each person who owns 5% or more of the outstanding common stock of the registrant are not included in that amount, because such persons may be deemed to be affiliates of the registrant. This determination of affiliate status is not necessarily a conclusive determination for other purposes. As of February 24, 2011, 85,895,081 shares of the registrant’s common stock, $0.001 par value per share, were issued and outstanding.As of December 31, 2010, the Supply Contracts in the aggregate allowed for approximately $2.4 billion (€2.1 billion denominated in euro at an assumed exchange rate of $1.15/€1.00) in sales from 2011 to 2012. As of December 26, 2009, the Supply
Contracts in the aggregate allowed for approximately $4.0 billion (€3.3 billion denominated in euro at an assumed exchange rate of $1.15/€1.00 and $0.2 billion denominated in USD) in sales from 2010 to 2013. The above-referenced dollar amounts relating to the Supply Contracts decreased from 2009 to 2010, primarily due to revenue recognized for contracted volumes sold in 2010, module pricing adjustments, the impact of the rebate program implemented in 2009, as described above, pre-set price reductions under the terms of the Supply Contracts, and the termination of a five-year agreement through 2013 with a solar power system project developer and system integrator in the United States, which was a related party.
We provide a limited warranty against defects in materials and workmanship under normal use and service conditions for five years following delivery to the owners of our solar modules. We also warrant to the owners of our solar modules that solar modules installed in accordance with agreed-upon specifications will produce at least 90% of their power output rating during the first 10 years following their installation and at least 80% of their power output rating during the following 15 years. In resolving claims under both the defects and power output warranties, we have the option of either repairing or replacing the covered solar module or, under the power output warranty, providing additional solar modules to remedy the power shortfall. Our warranties are automatically transferred from the original purchasers of our solar modules to subsequent purchasers. As of December 31, 2010, our components business' accrued warranty liability was $26.5 million, of which $9.8 million was classified as current and $16.7 million was classified as noncurrent. As of December 26, 2009, our components business' accrued warranty liability was $21.9 million, of which $7.6 million was classified as current and $14.4 million was classified as noncurrent.
In addition to our solar module warranty described above, for solar power plants built by our EPC team, we typically provide a limited warranty against defects in workmanship, engineering design, and installation services under normal use and service conditions for a period of one year following the substantial completion of a solar power plant or an energized section of a solar power plant. In resolving claims under both the workmanship and design warranties, we have the option of either remedying the defect to the warranted level through repair, refurbishment, or replacement. As of December 31, 2010 and December 26, 2009, our systems business' accrued warranty liability was $1.4 million and $0.7 million, respectively, all of which was classified as current.
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