First Solar third-quarter net profit more than doubles

LOS ANGELES Thu Oct 31, 2013 4:17pm EDT

LOS ANGELES Oct 31 (Reuters) - U.S. solar company First Solar Inc on Thursday said its third-quarter net income more than doubled from last year as it made progress on developing major utility-scale projects and sold more panels to customers.

Third quarter net income was $195 million, or $1.94 per share, up from $87.9 million, or $1 per share, a year ago.

Excluding items, the company earned $2.28 per share for the quarter.

Revenue was $1.3 billion, beating the average estimate of $988.63 million, according to Thomson Reuters I/B/E/S.