TEMPE, Ariz.--(BUSINESS WIRE)--First Solar, Inc. (NASDAQ: FSLR) today announced its financial results for the fourth quarter and fiscal year ended December 26, 2009. Quarterly revenues were $641.3 million, up from $480.9 million in the third quarter of fiscal 2009 and up from $433.7 million in the fourth quarter of fiscal 2008. Revenues for the fiscal year ended December 26, 2009 were $2,066.2 million, up from $1,246.3 million in fiscal year 2008.

Net income for the fourth quarter of fiscal 2009 was $141.6 million or $1.65 per share on a fully diluted basis, compared to net income of $153.3 million or $1.79 per share on a fully diluted basis for the third quarter of fiscal 2009. Net income for the fourth quarter of fiscal 2008 was $132.8 million or $1.61 per share on a fully diluted basis.

Net income for fiscal 2009 was $640.1 million or $7.53 per share on a fully diluted basis compared to net income of $348.3 million for fiscal 2008 or $4.24 per share on a fully diluted basis.

For 2010, First Solar forecasts net sales of $2.7 to $2.9 billion. EPS is projected in the range of $6.05 to $6.85. Total capital spending is projected to range from $500 to $550 million, including the Malaysian expansion. As a result, the Company expects to generate $730 to $790 million of operating cash flow and $180 to $290 million of free cash flow. The Company has posted its Earnings Call Presentation, which includes guidance for fiscal 2010 and additional details regarding the key assumptions relating to this guidance, on the Investor section of its website at www.firstsolar.com.

First Solar will discuss these results and outlook for fiscal 2010 in a conference call scheduled for today at 2:30 p.m. MST (4:30 p.m. EDT). Investors may access a live audio webcast of this conference call or the Earnings Call Presentation in the Investors section of the Company’s web site at www.firstsolar.com. An audio replay of the conference call will also be available approximately two hours after the conclusion of the call. The audio replay will remain available until Tuesday, February 23, 2010 at 11:59 p.m. EST and can be accessed by dialing if you are calling from within the United States or 719-457-0820 if you are calling from outside the United States and entering replay access code 2240374. A replay of the webcast will be available on the Investor section on the Company’s Web site approximately two hours after the conclusion of the call and will remain available for 90 calendar days. If you are a subscriber of FactSet and Thomson One, you can obtain a written transcript within 2 hours.