UPDATE 1-SolarWorld keeps 2009 sales outlook, Q1 net rises

* Q1 EBIT flat at 39 mln eur

* Q1 sales 176 mln eur vs 167 mln eur year-ago

* Shares indicated 1.1 percent higher

(adds details, CEO comments, background)

FRANKFURT, May 4 (Reuters) - SolarWorld (SWVG.DE), Germany's third-largest solar company by revenue, confirmed its 2009 sales outlook after first-quarter net profit rose more than a quarter as the company offset falling module prices by cutting costs. Chief Executive Frank Asbeck told Reuters on Monday that the company still expects to post 2009 sales of more than 1 billion euros ($1.33 billion), while full-year profit would depend on how prices develop in the battered industry.

SolarWorld in March held off giving a 2009 profit outlook, providing guidance only for sales as falling prices for cell modules and wafers has weighed on margins in the industry. [ID:nLQ660040]

Net profit for the first three months came in at 24 million euros, up 26 percent from last year's 19 million, while sales rose 5 percent to 176 million euros.

Its shares were indicated 1.1 percent higher in pre-market trade, while Frankfurt's technology index .TECDAX was seen 0.2 percent lower.

Cost-cutting measures also helped peer First Solar (FSLR.O) last week, whose shares rocketed after its results beat analyst expectations despite strong price declines. [ID:nN29452429]