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First Solar Predicts Strong Solar Demand in 2010

First Solar (FSLR) is attracting some mixed attention from analysts this morning, after the company offered a solid 2010 outlook last night. The alternative energy issue said it expects sales of $2.7 billion to $2.9 billion for the upcoming fiscal year, outpacing analysts' expectations for $2.4 billion.

"2010 is going to be stronger, we think, than 2009," said CEO Robert Gillette. Global demand is expected to reach 7.5 gigawatts, with overall demand projected to rise 35% per year through 2012. However, he added, "We think supply will still exceed demand in 2010."

However, the company's earnings forecast was more modest. FSLR expects 2010 earnings of $6.05 to $6.85 per share, with the low end of this range falling well short of Wall Street's consensus estimate for $6.55 per share.

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