US-based thin-film solar firm First Solar has announced financial results for the fourth quarter and year ended December 31, 2011. Fourth-quarter 2011 net sales were US$660 million, a decrease of US$345 million from the third quarter of 2011, primarily due to the timing of revenue recognition in its systems business and lower volume for module-only sales. Relative to the fourth quarter of 2010, quarterly net sales increased US$50 million from US$610 million. Net sales for 2011 were US$2.8 billion, up about 8% from fiscal year 2010.
Fourth quarter net loss per fully diluted share was US$4.78, compared to a net income per fully diluted share of US$2.25 in the third quarter of 2011 and US$1.80 in the fourth quarter of 2010.
Net loss per share in 2011 was US$0.46, compared to a net income per fully diluted share of US$7.68 in 2010.
First Solar updated its guidance for 2012 reducing net sales from US$3.7-4 billion to US$3.5-3.8 billion.
Article translated by Jackie Chang
