First Solar posts strong Q2 on solid global demand

The Arizona-based company reported net income of $13.41m, or 13 cents per share, versus $93.9m, or 92 cents per share, a year earlier.

Net income declined due to pre-tax restructuring charges of $86m related primarily to the decision to end production of the TetraSun crystalline silicon product.

Last month, First Solar pulled the plug on TetraSun technology it had acquired three years earlier from JX Nippon Oil & Energy with the goal of becoming a player in the fast-growing rooftop solar market.