Bloomberg News

SunPower Jumps After Quarterly Profit Beat Analyst Estimates

February 17, 2012

Feb. 17 (Bloomberg) -- SunPower Corp., a solar panel company majority-owned by Total SA, rose as much as 24 percent after reporting better-than-estimated earnings.

SunPower climbed as much as $1.83 to $9.31, the highest in nine months, at 10:01 a.m. in New York and has gained 49 percent this year.

Fourth-quarter profit was an adjusted 16 cents a share on sales of $563.4 million, San Jose, California-based SunPower said yesterday in a statement. Analysts had expected a loss of 6 cents, the average of 13 estimates compiled by Bloomberg. SunPower said 2012 sales will be in line with previous guidance of $2.6 billion to $3 billion.

--With assistance from and Ehren Goossens in New York. Editors: Todd White, Jasmina Kelemen

To contact the reporters on this story: Christopher Martin in New York at cmartin11@bloomberg.net;

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.


China's Killer Profits
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus