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SunPower: 4Q Earnings Snapshot

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SAN JOSE, Calif. (AP) _ SunPower Corp. (SPWR) on Wednesday reported fourth-quarter net income of $412.5 million.

On a per-share basis, the San Jose, California-based company said it had net income of $2.08. Earnings, adjusted for one-time gains and costs, came to 14 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The solar products and services company posted revenue of $341.8 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $355.6 million.

For the year, the company reported profit of $475 million, or $2.48 per share. Revenue was reported as $1.13 billion.

For the current quarter ending in April, SunPower said it expects revenue in the range of $270 million to $330 million. Analysts surveyed by Zacks had expected revenue of $343.5 million.

SunPower shares have climbed 70% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.61, more than quadrupling in the last 12 months.

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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