SunPower Falls on Q4 Loss
SunPower (NASDAQ: SPWR) was trading lower in Thursday's after-hours session after the company reported a loss in its fiscal fourth-quarter. In late trading, the stock was last down around 5 percent to $7.98.
The solar-panel company reported a fourth-quarter net loss of $144.8 million or $1.22 per share, versus a loss of $93 million or $0.94 per share, in the year ago period. On an adjusted basis, net income was $0.18 per share versus $0.04 last year. This was above Wall Street analysts' consensus EPS estimates of $0.15.
Revenue for the quarter was $678.5 million, well below consensus estimates of $772.2 million. SunPower shares had been on fire heading into the report, surging almost 84 percent over the last three months. In 2013, the stock had jumped nearly 50 percent prior to Thursday's report.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.