SunPower surges on Q1 strength

Work begins on Antelope Valley.

Work begins on Antelope Valley.

Shares of SunPower soared more than 17% in the final minutes of trading on Thursday after the module giant reported healthy signs across its units and geographies – and revenues up nearly 30% year-on-year.

In a sign of the challenges still facing even the most competitive PV manufacturers, the California-based company still swallowed a net loss of $54.7m. But that is a significant improvement both sequentially and year-on-year, and chief executive Tom Werner called it a “strong quarterly performance”.

SunPower hauled in revenues of $635.4m in the first quarter of 2013, slightly lower than last quarter, but with a significantly higher gross margin (9.3%).

SunPower, which does much of its manufacturing in the Philippines, produced 208MW of modules during the quarter – up from 153MW in Log in to read complete article.

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