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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 27, 2008

FIRST SOLAR, INC.

(Exact name of registrant as specified in its charter)

Delaware 001-33156 20-4623678

(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)

350 West Washington Street

Suite 600
Tempe, Arizona 85281
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (602) 414-9300

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02. Results of Operations and Financial Condition

On February 24, 2009, First Solar is issuing a press release and holding a conference call regarding its financial results for the fourth quarter
and fiscal year ended December 27, 2008. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
The information in this Form 8-K and in Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liability of that Section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set
forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release of First Solar dated February 24, 2009.
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned hereunto duly authorized.

FIRST SOLAR, INC.

Date: February 24, 2009 By: /s/ Mary Beth Gustafsson

Name: Mary Beth Gustafsson
Title: Vice President, General Counsel

(FIRST SOLAR LOGO) Exhibit 99.1

News Release

Contacts:
First Solar, Inc.
Jens Meyerhoff Larry Polizzotto
Chief Financial Officer Vice President, Investor Relations
(602) 414 - 9315 (602) 414 - 9315
investor@firstsolar.com lpolizzotto@firstsolar.com

First Solar, Inc. Announces 2008 Fourth Quarter and Year-end Financial
Results

Tempe, AZ — February 24, 2009 — First Solar, Inc. (NASDAQ: FSLR) today announced its financial results for the fourth quarter and fiscal
year ended, December 27, 2008. Quarterly revenues were $433.7 million, up from $348.7 million in the third quarter of fiscal 2008 and up from
$200.8 million in the fourth quarter of fiscal 2007. Revenues for the fiscal year ended December 27, 2008 were $1,246.3 million, up from
$504.0 million in fiscal year 2007.

Net income for the fourth quarter of fiscal 2008 was $132.8 million or $1.61 per share on a fully diluted basis, compared to net income of
$99.3 million or $1.20 per share on a fully diluted basis for the third quarter of fiscal 2008. Net income for the fourth quarter of fiscal 2007 was
$62.9 million or $0.77 per share on a fully diluted basis.

Net income for fiscal 2008 was $348.3 million or $4.24 per share on a fully diluted basis compared to net income of $158.4 million for fiscal 2007
or $2.03 per share on a fully diluted basis.

First Solar will discuss these results and expected results for fiscal 2009 in a conference call scheduled for today at 2:30 p.m. MST (4:30 p.m.
EDT). Investors may access a live audio web cast of this conference call in the Investors section of the company’s website at
http://www.firstsolar.com. An audio replay of the conference call will also be available approximately two hours after the conclusion of the call.
The audio replay will remain available until Friday, February 26, 2009 at 9:59 p.m. MST (11:59 p.m. EDT) and can be accessed by dialing 888-
266-2081 if you are calling from within the United States or 703-925-2533 if you are calling from outside the United States and entering access
ID number 1325337. A replay of the web cast will be available for 90 calendar days, approximately two hours after the conclusion of this call.

About First Solar, Inc.

First Solar, Inc. (NASDAQ: FSLR) manufactures solar modules with an advanced thin film semiconductor technology and provides
comprehensive PV solutions that significantly reduce solar electricity costs. By enabling clean, renewable electricity at competitive prices,
First Solar
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provides an economic and environmentally responsible alternative to existing peaking fossil-fuel electric generation. First Solar PV power
plants operate with no water, air emissions or waste stream. First Solar set the benchmark for environmentally responsible product life cycle
management by introducing the industry’s first comprehensive collection and recycling program for solar modules. From raw material sourcing
through end-of-life collection and recycling, First Solar is focused on creating cost-effective renewable energy solutions that protect and
enhance the environment.

For First Solar Investors:

This release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities
Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Those statements
involve a number of factors that could cause actual results to differ materially, including risks associated with the company’s business
involving the company’s products, their development and distribution, economic and competitive factors and the company’s key strategic
relationships and other risks detailed in the company’s filings with the Securities and Exchange Commission. First Solar assumes no obligation
to update any forward-looking information contained in this press release or with respect to the announcements described herein.
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FIRST SOLAR, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)

Th re e Mon ths En de d Twe lve Mon ths En de d

De ce m be r 27, De ce m be r 29, De ce m be r 27, De ce m be r 29,
2008 2007 2008 2007
Net sales $ 433,651 $ 200,797 $ 1,246,301 $ 503,976
Cost of sales 199,725 89,847 567,908 252,573
Gross profit 233,926 110,950 678,393 251,403
Operating expenses:
Research and development 11,080 4,432 33,517 15,107
Selling, general and administrative 52,747 24,191 174,039 82,248
Production start-up 8,771 4,065 32,498 16,867
Total operating expenses 72,598 32,688 240,054 114,222
Operating income 161,328 78,262 438,339 137,181
Foreign currency gain 6,190 1,165 5,722 1,881
Interest income 4,227 7,214 21,158 20,413
Interest expense, net (378) (163) (509) (2,294)
Other income (expense), net 245 (338) (934) (1,219)
Income before income taxes 171,612 86,140 463,776 155,962
Income tax expense (benefit) 38,841 23,266 115,446 (2,392)
Net income $ 132,771 $ 62,874 $ 348,330 $ 158,354
Net income per share:
Basic $ 1.63 $ 0.80 $ 4.34 $ 2.12
Diluted $ 1.61 $ 0.77 $ 4.24 $ 2.03
Weighted-average number of shares used in per share
calculations:
Basic 81,345 78,192 80,178 74,701
Diluted 82,450 81,318 82,124 77,971
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FIRST SOLAR, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)

De ce m be r 27, De ce m be r 29,
2008 2007
ASSETS
Current assets:
Cash and cash equivalents $ 716,218 $ 404,264
Marketable securities — current 76,042 232,686
Accounts receivable, net 61,703 18,165
Inventories 121,554 40,204
Deferred project costs 710 2,643
Economic development funding receivable 668 35,877
Deferred tax asset, net — current 9,922 3,890
Prepaid expenses and other current assets 90,584 64,780
Total current assets 1,077,401 802,509
Property, plant and equipment, net 842,622 430,104
Deferred tax asset, net — noncurrent 61,325 51,811
Marketable securities — noncurrent 29,559 32,713
Restricted cash and investments 30,059 14,695
Investment in related party 25,000 —
Goodwill 33,829 33,449
Other assets — noncurrent 14,707 6,031
Total assets $ 2,114,502 $ 1,371,312

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Accounts payable $ 46,251 $ 26,441
Income tax payable 99,938 24,487
Accrued expenses 140,899 76,256
Short-term debt — 24,473
Current portion of long-term debt 34,951 14,836
Other current liabilities 59,738 14,803
Total current liabilities 381,777 181,296
Accrued collection and recycling liabilities 35,238 13,079
Long-term debt 163,519 68,856
Other liabilities — noncurrent 20,926 10,814
Total liabilities 601,460 274,045
Stockholders’ equity:
Common stock, $0.001 par value per share; 500,000,000 shares authorized; 81,596,810 and
78,575,211 shares issued and outstanding at December 27, 2008 and December 29, 2007,
respectively 82 79
Additional paid-in capital 1,176,156 1,079,775
Accumulated earnings 361,225 12,895
Accumulated other comprehensive income (loss) (24,421) 4,518
Total stockholders’ equity 1,513,042 1,097,267
Total liabilities and stockholders’ equity $ 2,114,502 $ 1,371,312