SunPower Corporation Q4 Profit Decreases, but beats estimates

SunPower Corporation (SPWR) revealed a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $7.6 million, or $0.04 per share. This compares with $38.9 million, or $0.22 per share, in last year's fourth quarter.

Excluding items, SunPower Corporation reported adjusted earnings of $26.2 million or $0.15 per share for the period.

Analysts on average had expected the company to earn $0.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 43.0% to $497.3 million from $347.8 million last year.

SunPower Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $7.6 Mln. vs. $38.9 Mln. last year.
-EPS (Q4): $0.04 vs. $0.22 last year.
-Analyst Estimates: $0.13
-Revenue (Q4): $497.3 Mln vs. $347.8 Mln last year.

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