Thursday, October 16, 2008

SunPower Reports Third-Quarter 2008 Results (SPWRA)

Sunpower is the first of the solars to report, there has been some concern that a miss would spank the whole group. Average estimate was $0.56, coming in at $0.61 has the stock up $3.86 (9.43%) in pre-market trade.
From Reuters:

SunPower 3rd-quarter earnings jump

* Operating earnings top average forecast

* Net income per share 26 cents

NEW YORK, Oct 16 (Reuters) - U.S. solar company SunPower Corp (SPWRA.O: Quote, Profile, Research, Stock Buzz) reported sharply higher quarterly earnings Thursday on strong demand for solar power.

Net income was $22.4 million, or 26 cents per share, compared with $8.4 million, or 10 cents per share, a year ago.

Excluding one-time items, the company earned 60 cents a share....MORE
Here's the press release.