SunPower announces fiscal year 2013 guidance

San Jose, USA - SunPower Corp. announced financial guidance for fiscal year 2013.

The company's second quarter 2013 consolidated non-GAAP guidance is as follows: revenue of $550 million to $600 million, gross margin of 14 percent to 16 percent, net income per diluted share of $0.05 to $0.15 and megawatts (MW) recognized in the range of 260 MW to 280 MW. On a GAAP basis, the company expects revenue of $540 million to $590 million, gross margin of 13 percent to 15 percent and net loss per diluted share of ($0.25) to ($0.15).

For fiscal year 2013, the company expects non-GAAP revenue of $2.5 billion to $2.6 billion, gross margin of 15 percent to 17 percent, net income per diluted share of $0.60 to $0.80, capital expenditures of $60 million to $80 million and gigawatts (GW) recognized in the range of 1.0 GW to 1.1 GW. On a GAAP basis, the company expects revenue of $2.6 billion to $2.7 billion, gross margin of 15 percent to 17 percent and net income (loss) per diluted share of ($0.05) to $0.20. SunPower remains committed to reducing its operational expenses by 10 percent compared to 2012 and expects to generate free cash flow, including lease financings, in the range of $100 million to $200 million while continuing to invest in its technology roadmap and manufacturing cost reduction initiatives.

Source: IWR Online, 16 May 2013