NEW YORK/SAN FRANCISCO, Feb 18 (Reuters) - First Solar Inc (FSLR.O), the shoeslowest-cost photovoltaic solar manufacturer, posted a higher-than-expected profit, but its shares fell 6 percent as its outlook disappointed and profit cheap shoesmargins narrowed. Investors were disappointed that the company, one of the world's largest producers of the cells and modules that turn sunlight into electricity, reiterated its forecast for 2010 net sales of $2.7 billion to $2.9 billion wholesale shoesand earnings per share of $6.05 to $6.85. Its shares had rallied in the days ahead of the earnings announcement onnike shoes hopes the company would give a rosy outlook for 2010 demand. "There certainly were some positive expectations built in. Also,cheap nike shoes the gross margin results came in towards the low end of the previously guided range," said John Hardy, analyst with Broadpoint AmTech. Net income for the fourth-quarter slipped to $141.6 million, or $1.65 per share, Nike Air Jordan Shoesfrom $153.3 million, or $1.79 per share, in the year-ago quarter. That beat the $1.52 per share expected by analysts on average, according to Thomson Reuters I/B/E/S. Revenue rose 48 percent to $641.3 million, easily topping analysts' air jordanforecast of $584 million, but gross margin for the fourth quarter fell to 41.5 percent from 50.9 percent in the third quarter. Planned cuts to German solar subsidies have cast a gloom across the industry in recent weeks, with analysts and experts predicting that demand in the world's largest market for the renewable power source could shrink sharply later this year. Still, sales in Germany, which is also First Solar's largest market, are likely to Nike Air Max Shoesjump in the coming weeks as developers move to install new systems before the country's subsidies are lowered. First Solar expects about 50 percent of its production volume to go to Germany this year, with the deliveries front loaded into the first half of 2010. It said the overall outlook for 2010 was positive but the pictureair jordan shoes in Germany was uncertain. "The first half is very strong demand. Orders look very strong," Chief Executive Rob Gillette told a conference call. "The second half, we'll have to see." Gillette said the company expected demand in Germany to be flat this year at about three gigawatts but expects growth in Italy to accelerate in the second half, offsetting some of the drop-off in GermanyUgg Tasman Ugg Tasmina Ugg Ultimate Tall Braid Ugg Ultra Short Ugg Ultra Short Le Ugg Upside Ugg Whitely Boots