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First Solar First Solar , Inc. Announces Third Quarter 2021 Financial Results • Net sales of $ 584 million • Net income per diluted share of $ 0.42 • Cash , cash equivalents , restricted cash , and marketable securities of $ 1.9 billion • Third quarter production of 2.0 GWDC despite challenging freight and COVID - 19 environment . Increased top production bin to 465 watts , representing 19 % glass area efficiency Started construction and purchased equipment for our next - generation factories in Ohio and India • • YTD net bookings of 10.5 GWDc ; 1.5 GWDC since prior earnings call Maintain 2021 EPS guidance of $ 4.00 to $ 4.60 EXHIBIT 99.1 News Release TEMPE , Ariz . , November 4 , 2021 - First Solar , Inc. ( Nasdaq : FSLR ) today announced financial results for the third quarter ended September 30 , 2021 . " I would like to thank our associates for their dedication and continued execution during the third quarter , " said Mark Widmar , CEO of First Solar . “ Operationally , despite the challenging freight and COVID - 19 environment our manufacturing team continues to deliver on their commitments . In the third quarter we produced 2.0 GWDC of modules , and in October we increased our top production bin to 465 watts . In parallel we started construction of the building for our third Ohio factory , and began ordering equipment for our first factory in India . Commercially , we had a good quarter , increasing our record year - to - date bookings to 10.5 GWDC . From a financial standpoint , while extended transit times for ocean freight impacted our third quarter results , we are reiterating our 2021 EPS guidance . " Net sales for the third quarter were $ 584 million , a decrease of $ 46 million from the prior quarter , primarily due to lower systems segment revenue , which was partially offset by an increase in module segment revenue . Operating income for the third quarter was $ 51 million . Third quarter operating income included depreciation and amortization of $ 66 million , underutilization and production start - up of $ 9 million , and share - based compensation of $ 6 million . Net income per diluted share for the third quarter was $ 0.42 , compared to $ 0.77 in the prior quarter . Cash , cash equivalents , restricted cash , and marketable securities at the end of the third quarter totaled $ 1.9 billion , a decrease of $ 111 million from the prior quarter . This decrease was primarily due to capital expenditures and reinvestment of restricted cash , which was partially offset by operating cash flows and collection of accounts receivables related to legacy systems activities . 1 www.firstsolar.com