A huge increase in third quarter earnings made shares in solar panel manufacturer First Solar (NASDAQ:FSLR) a hot property in after-hours trading on Thursday.
Net income soared to US$346.2mln in the third quarter from US$88.42 the year before, although the figures were flattered by the sale in September of a controlling stake in the 300 megawatt (Mw) Desert Stateline project in Southern California.
Earnings per share of US$3.36 were up from 87 cents a year earlier and comfortably topped analysts' expectations of US$1.55.
Revenue rose 43% to US$1.27bn from US$0.89bn.
The only cloud on the horizon appears to be an unresolved tax issue that could see some US$40mln lopped off the bottom line.
"We remain confident in our long term strategy and our ability to execute successfully," chief executive officer James Hughes said.
Shares were trading at US$57.50 in pre-market trading, having closed at US$50.99 on Thursday.