First Solar achieved several milestones over the past year:
- Acquired Solar Chile and established subsidiaries in India, the Middle East, South Africa and Thailand.
- Set new world record for CdTe cell efficiency at 18.7%.
- Increased average module efficiency to 12.9% for the fourth quarter of 2012, up 0.7 percentage points from the fourth quarter of 2011.
- Reduced the average module manufacturing costs on its best lines to $0.64 per watt (excluding underutilization), down from $0.69 in the fourth quarter of 2011.
- Surpassed 250 MW AC of grid-connected power at Agua Caliente, making it the world's largest operational solar power plant.
- Surpassed 7 GW DC of cumulative production, enough to provide clean electricity for approximately 3.5 million homes and displace 4.7 million metric tons of CO₂ annually.
For a reconciliation of non-GAAP measures to measures presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”), see the tables below.
First Solar has scheduled a conference call today, Feb. 26, 2013 at 4:30 p.m. EST to discuss this announcement. Investors may access a live webcast of this conference call by visiting http://investor.firstsolar.com/events.cfm.
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 Monday, March 4, 2013 at 11:59 p.m. EST and can be accessed by dialing 888-203-1112 if you are calling from within the United States or 719-457-0820 if you are calling from outside the United States and entering the replay pass code 4625647. A replay of the webcast will be available on the Investors section of the Company's website approximately two hours after the conclusion of the call and remain available for approximately 90 calendar days.