The 550MW Desert Sunlight in California, which uses First Solar’s thin-film panels Photo: Jamey Stillings

First Solar posts record 2015 results as outlook for US brightens

Despite a weaker fourth quarter, US thin-film PV giant First Solar posted record 2015 profits and sales, while boosting its pipeline for potential projects to 20.3GW versus 13.5GW a year earlier.

24 February 2016 0:16 GMT Updated 28 September 2016 9:09 GMT

By Richard A. Kessler in Fort Worth

Net income was $546.42m, or $5.37 per fully diluted share, versus $395.9m, or $3.90 in 2014. Sales totaled $3.57bn compared with 3.39bn a year earlier.

Fourth quarter net income was $164.13m, or $1.60 per fully diluted share, down from $193.3m, or $1.90 a year earlier. Sales were $942.3m versus $1bn in fourth quarter 2014. The quarter dip in financial performance was due to lower revenue from the 300MW Stateline PV project in California and lower module sales.

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