First Solar Reports Loss as Charges Equal 20% of Market Value
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First Solar Inc., the world’s largest maker of thin-film solar panels, reported a loss in the fourth quarter as panel prices declines and it took charges equal to almost 20 percent of its market value.
The company took a $393 million writedown of goodwill, and spent $60 million for restructuring expenses and $164 million for warranty payments to replace flawed equipment, Tempe, Arizona-based First Solar said yesterday in a statement.