Sunpower and Suntech post earnings

North America

Shares of SunPower surge on optimistic outlook

17.02.2012: Shares of US solar company SunPower Corp. were up nearly 9 percent after the company upgraded it forecast for 2010. The company stated that it “remains committed to achieving break even and a year-end unrestricted cash balance of more than $300 million, while investing in cost reduction.” Previously, SunPower reported a net loss of $603.9 million for full year 2011, representing $6.18 per share, compared to a net gain of $178.7 million in 2010. However, due to a surprisingly good forth quarter, excluding one-time items, the company posted a profit of 16¢ per share in the fourth quarter, which was far better than previously expected by analysts. … Source: SunPower Corp.; Summary: PHOTON http://www.sunpowercorp.com http://us.sunpowercorp.com/about/newsroom/press-releases/

Asia

Suntech posts positive preliminary results

17.02.2012: Chinese solar products manufacturer Suntech Power Holdings Co. has raised its revenue guidance for 2011 due to the fact that its fourth-quarter shipments declined less than expected. However, the company declined to provide any information on 2011 profits or losses. Suntech expects 2011 revenue to be between $3.13 and $3.15 billion, and it estimates that it shipped 2.09 GW of solar products during the year. Previously, the company forecast revenue would fall between $3 to $3.1 billion and shipments would reach 2 GW. The company also announced that it recorded a write down of $571 million in the third quarter due to a challenging solar market. The updated fourth-quarter and full-year results are scheduled to be published on March 8… Source: Suntech Power Holdings Co.; Summary: PHOTON http://www.suntech-power.com http://phx.corporate-ir.net/phoenix.zhtml?c=192654&p=irol-newsArticle& cat=news&id=1662381 The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/61040.pdf

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com