Sure, it can be love at first sight... if you're a really shallow person it can be... otherwise, as the other posts have stated, it's merely lust... until you get to know the person better and you are more aware of what you are committing yourself to, then you can call it love.
Still... the term is quite trite... I hear it being used everywhere, usually by guys who just seem to be the type who wouldn't understand what "love @ first sight really means" hehe