SunPower, a leading solar panel manufacturer, saw its shares jump when it announced smaller losses for Q4 projected significant sales growth for the first quarter of 2006. For the three months ended Dec. 31, revenue was $29.3 million, over six times last year’s $4.7 million.
The company lost $640,000, or a penny per share, down from a loss of $10.4 million last year. Excluding stock option expenses, earnings were $1.5 million, or 2 cents per share, up from last year’s loss of $9.1 million.
SunPower, which was spun off from Cypress Semiconductor Corp. in 2005, said the results from 2005 are combined results from the predecessor and successor company.
The company said it expects to earn between 2 cents and 4 cents per share, excluding charges, on revenue between $38 million and $40 million for the first quarter.
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