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SunPower: 1Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ SunPower Corp. (SPWR) on Thursday reported a loss of $89.7 million in its first quarter.

On a per-share basis, the San Jose, California-based company said it had a loss of 63 cents. Losses, adjusted for one-time gains and costs, were 41 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.

The solar products and services company posted revenue of $348.2 million in the period. Its adjusted revenue was $411.6 million.

For the current quarter ending in July, SunPower said it expects revenue in the range of $420 million to $460 million.

The company expects full-year revenue in the range of $1.8 billion to $1.9 billion.

SunPower shares have increased 48% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.38, a drop of 18% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPWR at https://www.zacks.com/ap/SPWR