SunPower: 4Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ SunPower Corp. (SPWR) on Wednesday reported a loss of $158.2 million in its fourth quarter.
The San Jose, California-based company said it had a loss of $1.12 per share. Losses, adjusted for one-time gains and costs, came to 21 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.
The solar products and services company posted revenue of $456.8 million in the period. Its adjusted revenue was $525.4 million.
For the year, the company reported that its loss narrowed to $811.1 million, or $5.76 per share. Revenue was reported as $1.81 billion.
For the current quarter ending in April, SunPower said it expects revenue in the range of $350 million to $390 million. Analysts surveyed by Zacks had expected revenue of $425 million.
The company expects full-year revenue in the range of $1.9 billion to $2 billion.
SunPower shares have risen 20 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.94, a decrease of 20 percent in the last 12 months.