SunPower Turns To Profit In Q4; Issues Q1, FY14 Outlook

(RTTNews) - SunPower Corp. (SPWR) reported fourth-quarter net income to stockholders of $22.3 million or $0.15 per share, compared to a loss of $144.8 million or $1.22 per share, last year.

Adjusted net income per share for the latest fourth quarter was $0.47, up from $0.18 per share last year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items.

Total revenue declined to $638.13 million, from $678.53 million, a year ago. Analysts expected revenue of $707.96 million for the quarter.

Looking ahead to the first quarter, SunPower expects non-GAAP revenue of $650 million to $700 million, and non-GAAP net income per share of $0.25 to $0.40. On a GAAP basis, the company expects revenue of $575 million to $625 million, and per share results between a loss of $0.10 and profit of $0.25. Analysts expect the company to report fourth-quarter profit per share of $0.23 on revenue of $609.65 million.

For fiscal 2014, the company expects non-GAAP revenue of $2.4 billion to $2.6 billion, and non-GAAP net income per share of $1.00 to $1.30. On a GAAP basis, the company expects revenue of $2.45 billion to $2.65 billion, and net income per share of $0.65 to $0.95. Analysts expect the company to report full year 2014 profit per share of $1.18 on revenue of $2.63 billion.