SunPower Loss Widens on Cheaper Panels, Sees 2013 Rebound
BLOOMBERG - SunPower Corp., the second-largest U.S. solar manufacturer, said slumping prices for photovoltaic panels contributed to a wider loss in the fourth-quarter and will pull down sales this quarter. That’s also helping the company sell projects that will generate at least $3.5 billion in revenue in the years to come.
The fourth-quarter net loss widened to $144.8 million, or $1.22 a share, from $93 million, or 94 cents a share, a year earlier, San Jose, California-based SunPower said yesterday in a statement. The company was expected to lose 78 cents a share, the average of four analysts’ estimates compiled by Bloomberg. Sales increased 8.5 percent to $678.5 million.