SunPower restates earnings after Philippines accounting fibs
SunPower found finance employees in the Philippines were intentionally understating costs to try to meet internal projections, causing the US solar photovoltaic (PV) manufacturer to reduce its net income by $16.9m over a seven-quarter period. SunPower also reported fourth quarter earnings of $8.7m, down nearly 70% from a year earlier.
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Forgot your password?Published: Friday, March 19 2010
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