First Solar 1Q profit triples

First Solar Inc., the nation's largest solar panel maker, says its profit more than tripled in the first quarter despite tightened bank lending that has made it tough to fill orders.

The Tempe, Ariz.-based company reported Wednesday it earned $164.6 million, or $1.99 per share, in the first quarter, compared with $46.6 million, or 57 cents per share, for the same period last year.

Quarterly sales were $418.2 million for the three months that ended March 28, according to an April 29 report in The New York Times.

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