Sunpower notes rise in first-quarter revenues

Sunpower, a manufacturer of solar technology, has announced financial results for its 2010 first quarter ended 4 April, posting revenue of $347m (£233.4m), compared with $212m in the first quarter of 2009 and $548m in the fourth quarter of 2009. 

The company’s components and systems segments accounted for 81 and 19 per cent of first-quarter 2010 revenue, respectively.

On a GAAP basis, Sunpower reported gross margin of 20.7 per cent, an operating loss of $2.9m and net income per diluted share of $0.13, compared with gross margin of 15.2 per cent, an operating loss of $18m and a net loss per diluted share of $0.12 in the first quarter of 2009. 

Operating income for the quarter was $13.5m and net income per diluted share was $0.05, while, in the first quarter 2009, the company reported non-GAAP gross margin of 17.2 per cent, an operating loss of $4.4m and a net loss per diluted share of $0.09.