First Solar Cuts Forecast; Sees FY2011 Sales $2.8-2.9B vs $3.0-3.3B Prior

First Solar, Inc.

today updated the Company's 2011 financial guidance and announced 2012 guidance. First Solar now forecasts 2011 net sales in the range of $2.8 to $2.9 billion, down from the Company's prior guidance range for net sales of $3.0 to $3.3 billion. The Company expects diluted earnings per share (

) for 2011 to be in the range of $5.75 to $6.00, with consolidated operating income of $575 to $600 million. The primary reason for the revised 2011 guidance is continued delays of certain projects in First Solar's systems business due to weather and other factors.