First Solar announces fourth quarter and full-year 2012 financial results

First Solar, Inc. (Nasdaq: FSLR) today announced financial results for the quarter and year ended Dec. 31, 2012.

Net sales were a record $1.1 billion in the quarter, an increase of $236 million from the third quarter of 2012 and $415 million from the fourth quarter of 2011.

The increase in net sales from the third quarter of 2012 was primarily due to increased revenue recognition for the Topaz project, and an increase in third-party module sales.

Net sales for 2012 were $3.4 billion, up 22% from 2011.