SunPower, which makes high-efficiency solar panels, continued its rapid expansion in the first quarter as revenue climbed to $142.3 million in the first quarter, while net income rose to $1.2 million.
When acquisition and other non-recurring costs (such as stock based compensation) are excluded, net income came to $23.3 million, or 29 cents a share. Gross margins, meanwhile, came in at 29 percent, in part because the average selling price of solar cells and panels rose three percent over the previous three months. Typically in most hardware industries, average selling prices decline.
The figures, which came out … Read more