12 May '11, 8pm

SunPower Q1 Results: Italy Impacts Revenue: SunPower, the manufacturer of the world's highest efficiency photo...

SunPower Q1 Results: Italy Impacts Revenue: SunPower, the manufacturer of the world's highest efficiency photo...

SunPower (Nasdaq:SPWRA), the manufacturer of the world's highest efficiency photovoltaic panels just reported its first-quarter 2011 results. This comes on the heels of its recent big news of being acquired by French oil and gas concern Total. Margins were down and the firm moved to a slight loss after a profitable Q4 in 2010. Q1 2011 revenue of $451 million vs. $347 million in Q1 2010 Q1 GAAP gross margin of 19.6 percent Q1 2011 ending cash, restricted cash and equivalents balance of $671 million Module cost in the quarter was $1.68 per watt Tom Werner, SunPower president and CEO said: “Our revenue was lower than plan as a result of changing market conditions in Europe." "We exceeded our manufacturing cost reduction targets for the quarter and remain on plan to achieve our efficiency adjusted panel cost per watt target of $1.08 in the fourth quarter of this year." “We wer...

Full article: http://www.greentechmedia.com/articles/read/sunpower-q1/

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