28 Jul '15, 9pm

SunPower guides 2015 revenue 50% lower than previous year

SunPower expects full-year 2015 GAAP revenue to be around 50% lower than in 2014, due to the impact of establishing its JV yieldco vehicle with First Solar. Second quarter GAAP revenue was below market expectations at US$381 million, compared to US$440.9 million in the first quarter of 2015. Gross margin (GAAP) dropped to 18.6%, down from 20.6% in the prior quarter. The company guided 2015 GAAP revenue of US$1.50 billion to US$1.70 billion, down 50% at the low point of guidance, compared to 2014 GAAP revenue of US$3.027 billion. Financials SPWR NASDAQ 25.66 +0.55 (2.19%) 4:15PM EDT Major PVEP (Photovoltaics Energy Provider) SunPower expects full-year 2015 GAAP revenue to be around 50% lower than in 2014, due to the impact of establishing its JV yieldco vehicle with First Solar. After the IPO of 8point3 Energy Partners, SunPower has for the first time this year provided ful...

Full article: http://www.pv-tech.org/news/sunpower_guides_2015_revenue_...

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