First Solar Inc. has released its financial results for the third quarter of this year, reporting net sales of $1.3 billion, an increase of $746 million from the prior quarter and an increase of $427 million from the third quarter of 2012.
The company attributes the sales increase primarily to higher systems business project revenues, which included initial revenue recognition of Desert Sunlight and the sale of the ABW projects in Canada. First Solar also attributed some of the increase to higher module sales volume to third-party customers.
Revenues for the first nine months of 2013 were $2.5 billion compared to $2.3 billion for the first nine months of 2012.
