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First Solar profit falls, cuts 2011 forecast

NEW YORK/LOS ANGELES (Reuters) - First Solar Inc posted lower-than-expected quarterly profit and cut its 2011 forecast as slack demand in Europe hit prices for its thin-film panels.

NEW YORK/LOS ANGELES (Reuters) - First Solar Inc posted lower-than-expected quarterly profit and cut its 2011 forecast as slack demand in Europe hit prices for its thin-film panels.

Global solar module demand has suffered this year as declines in subsidies in key European markets hurt sales, even as First Solar and rivals such as Suntech Power Holdings Co Ltd and Trina Solar Ltd expand production.

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