First Solar profit almost doubles, raises full-year forecast

Tue May 6, 2014 4:16pm EDT

May 6 (Reuters) - First Solar Inc's quarterly profit nearly doubled as revenue increased and operating expenses fell.

The company raised its full-year earnings forecast to $2.40-2.80 per share from its previous forecast of $2.20-$2.60 per share.

Net income jumped to $112 million, or $1.10 per share, in the first quarter ended March 31, from $59.1 million, or 66 cents per share, a year ago.

Sales rose 26 percent to $950.2 million. (Reporting By Kanika Sikka and Anannya Pramanick in Bangalore; Editing by Joyjeet Das)

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