Excluding costs related mainly to restructuring, the leading thin-film solar panel maker earned $2.04 per share. Fourth quarter sales increased to $1.08m from $660.4m, primarily due to greater revenue recognition for the 550MW Topaz project, the world’s largest solar plant, and an increase in third party module sales. Topaz, owned by MidAmerican Energy, is due fully online in 2015.
First Solar chief executive Jim Hughes warns that the solar market will remain “turbulent for some months to come.”
