The company reported fourth-quarter earnings per share (EPS) of $0.49, compared to $0.54 in the third quarter. Net income per share was $1.36 for 2018 and $0.49 for the fourth quarter.
Cash and marketable securities at the end of the fourth quarter decreased to $2.5 billion from $2.7 billion at the end of the prior quarter. The decrease primarily resulted from capital investments in Series 6 manufacturing capacity, factory ramp activities, and the timing of cash receipts from certain systems project sales.
“We had a number of notable accomplishments in 2018, including strong net bookings of 5.6GWDC and the start of Series 6 production at three factories,” said Mark Widmar, CEO of First Solar. “Our Series 6 progress in 2019 continues to be encouraging with the start of production at a fourth factory and ongoing improvements in throughput and efficiency at our existing facilities. We continue to see good demand for Series 6, and our pipeline of contracted shipments positions us well for the year.”