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SunPower: 4Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ SunPower Corp. (SPWR) on Wednesday reported a loss of $158.2 million in its fourth quarter.

The San Jose, California-based company said it had a loss of $1.12 per share. Losses, adjusted for one-time gains and costs, came to 21 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.

The solar products and services company posted revenue of $456.8 million in the period. Its adjusted revenue was $525.4 million.

For the year, the company reported that its loss narrowed to $811.1 million, or $5.76 per share. Revenue was reported as $1.81 billion.

For the current quarter ending in April, SunPower said it expects revenue in the range of $350 million to $390 million. Analysts surveyed by Zacks had expected revenue of $425 million.

The company expects full-year revenue in the range of $1.9 billion to $2 billion.

SunPower shares have risen 20 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.94, a decrease of 20 percent 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