Solar Companies Defend Accounting Practices
REUTERS - U.S.-based First Solar Inc (FSLR.O) denied it was using aggressive accounting methods to support its earnings growth, despite concerns from some analysts that its cash flows were beginning lag profit levels.
"We report net income and net cash provided by operating activities in accordance with U.S. GAAP," the company said in an email, referring to the Generally Accepted Accounting Principles.
First Solar and other leading solar companies such as China's Suntech Power Holdings Co Ltd (STP.N) and California- based SunPower Corp (SPWRA.O) are expected to report their quarterly earnings in the coming weeks.
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