SunPower Corp. Turns To Profit In Q3 - Quick Facts

(RTTNews) - SunPower Corp. (SPWR) reported third-quarter net income to stockholders of $108.39 million or $0.73 per share, compared to a loss of $48.54 million or $0.41 per share, last year. Adjusted net income per share was $0.44 for the quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.25 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $657.12 million, from $648.95 million, a year ago. Analysts expected revenue of $589.38 million for the quarter. SunPower Corp. expects its fourth-quarter non-GAAP revenue of $675 million to $725 million, and non-GAAP net income per share of $0.15 to $0.35. On a GAAP basis, the company expects revenue of $575 million to $625 million, and per share results between a loss of $0.10 and profit of $0.10. Analysts expect the company to report fourth-quarter profit per share of $0.28 on revenue of $723.04 million.

For fiscal 2013, the company expects non-GAAP revenue of $2.52 billion to $2.57 billion, and non-GAAP net income per share of $1.30 to $1.50. On a GAAP basis, the company expects revenue of $2.45 billion to $2.50 billion, and net income per share of $0.45 to $0.65. Analysts expect the company to report full year 2013 profit per share of $1.23 on revenue of $2.53 billion.