From SmallCapPulse:
Analyst Comments – Auriga’s Mark Bachman reiterated his HOLD rating on SunPower (Nasdaq:SPWRA) after its Q1 call, noting that “management team was optimistic, but not likely enough to get the stock moving up in the near term.” Sees “little reason to be involved with the stock and would suggest finding other solar investments.”Financial Results
Sunpower (Nasdaq:SPWRA) reported Q110 revenues of $347.2 million, compared to $547.9 million in the previous quarter and $211.6 million for the same period last year, with gross margins of 20.6%, 20.2% and 15.2%, respectively. Net income for Q110 was $12.5 million, or $0.013 per diluted share, compared to net income of $8.5 million for Q409 and a net loss of $9.8 million for Q109.
In terms of guidance, management reaffirmed it expects revenues of $2 to $2.25 billion for FY10 and net income per diluted share of $1.25 to $1.65. It expects to produce 550MW of solar cells. On a quarterly basis, for Q210, it expects revenue in the range of $380-$420 million, gross margins in the range of 20-22% and net income per diluted share of $0.05 to $0.12 per share; for Q310 it expects revenues in the range of $450 to $490 million, gross margins in the range of 18-20% and net income per diluted share of $0.08 to $0.15; and for Q410, it expects revenues in the range of $825 to $1,025 million, gross margins in the range of 20-22% and net income per diluted share in the range of $1.05 to $1.35....MORE
Compare with Monday's "[Auriga's] Bachman Thinks SunPower Could Be Attractive Acquisition - Ups To HOLD" (SPWRA; SPWRB; TSL; WFR)
