26 Jul '11, 12am

SunPower Warns of Wider 2Q Losses: Wil More Bad News Follow?: Is it a temporary headache, or bad times ahead,

SunPower Warns of Wider 2Q Losses: Wil More Bad News Follow?: Is it a temporary headache, or bad times ahead,

Is it a temporary headache, or bad times ahead, for the solar industry? SunPower today announced that its second quarter losses would be greater than anticipated. Non-GAAP losses should come to around 19 to 20 cents per share, more severe than the five cent loss to ten cent non-GAAP profit expected earlier. Gross margin will come to 12 to 13 percent instead of 15 to 17 percent. Margins in the first quarter came to 19.6 percent and the first quarter margins represented a disappointing slide from earlier times. So in all, this is curve that goes down to the right. "While we met our revenue goals for the second quarter, our gross margin and bottom line performance was impacted by market conditions in Germany and Italy ," said Tom Werner , SunPower president and CEO. The quarter also includes one-time charges of $75 million. Including all expenses, losses should come to $1.50 ...

Full article: http://www.greentechmedia.com/articles/read/sunpower-warn...

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