Sunpower increases revenues and net income

San Jose, USA - Sunpower Corp. announced financial results for its fiscal 2014 first quarter. Revenues on a GAAP-basis have been increased in comparison the 4th Quarter 2013 to $692.4 million (4th Quarter 2013: $638.1 million). Operating income has also been improved to $65.0 million (4th Quarter 2013: $22.3 million).

"SunPower once again posted strong quarterly results, reflecting the power of our full value chain integration and diversified market footprint. We benefitted from strong demand in our distributed generation channels as well as solid execution in our global power plant business," said Tom Werner, SunPower president and CEO. "Construction of our new 350-megawatt (MW) solar cell manufacturing facility (Fab 4) is on track with first silicon expected early next year. This new capacity will allow us to address the growing demand for our high efficiency solar systems and will incorporate technology that further advances SunPower's performance advantage. A pre-production solar cell incorporating Fab 4 technology was recently measured at more than 25 percent efficiency by the National Renewable Energy Laboratory. "Regionally, our North America business continued to perform well. The 579-MWac Solar Star projects for MidAmerican Solar remain on schedule with more than 170-MW grid connected. We also started construction of a 20-MWac SunPower

Source: IWR Online, 25 Apr 2014