Shares of solar power company First Solar dropped in after-hours trading Tuesday following disappointing quarterly results. The Arizona-based company, a leading maker of thin-film solar panels and a developer of solar power projects, posted net sales of $660 million and earnings per share of $1.26, excluding certain charges. Analysts surveyed by Thomson Reuters expected the firm to post earnings of $1.54 per share on $782 million in revenue for the quarter ended in December. When taking into account costs incurred during the quarter from factors including restructuring and loss of goodwill, First Solar sustained a net loss of $413 million. “First Solar’s performance in the quarter was impacted by an aggressive competitive environment, an uncertain regulatory environment, warranty-related charges, and restructuring costs incurred to help position our business for the future,” Mike Ahearn, First Solar’s chairman and interim CEO, said in a statement. The company also lowered its sales guidance for 2012 from $3.7-$4.0 billion to $3.5-$3.8 billion. Following a brief halt to trading after the bell, shares dropped roughly 15% before rebounding to around 6% down late in the day.
