Tempe, Ariz., thin-film PV maker First Solar’s fourth quarter revenues grew to $641.3 million, up from $480.9 million in the previous quarter.
For the whole year First Solar revenues were $2.06 billion, up from $1.24 billion in fiscal year 2008.
Net income for the quarter fell to $141.6 million from $153.3 million in the previous quarter but higher than the $132.8 million registered over the same time period, a year ago.
First Solar’s net income for the whole of 2009 was $640.1 million from $348.3 million registered over the same time period, a year ago.
Looking forward First Solar forecasts net sales of $2.7 billion to $2.9 billion in 2010 and expects to generate between $730 and $790 million of operating cash flow.
UPDATE: First Solar CFO Jens Meyerhoff says he expects the company’s project pipeline in Italy and North America to offset any drop in sales in Germany brought on by the expected cuts in the country’s solar feed-in tariffs.
In 2010 First Solar says it will ship 50 percent of its PV production to Germany, says Meyerhoff.