SunPower Corporation Earnings

SunPower reported Thursday a five-fold jump in net income in the fourth quarter and a huge surge in revenue, and it expects revenue and profits to grow in 2009.

Advertisement
The mood though, is far from euphoric as analysts and company executives are still worried about the fragile state of the economy. SunPower, in fact, announced it laid off about 6 percent of its non-manufacturing employees, or 1.2 percent of its overall global workforce.

The San Jose, Calif.-based solar panel maker brought in $29.55 million, or 35 cents per share in the fourth quarter, compared with $4.88 million, or 6 cents per share, from the year-ago period. A strong U.S. dollar against the Korean won resulted in a 7 cent per share gain, the company said.

Labels: Earnings, SPWR, SunPower Corp

posted by Ertai at 12:10 PM