SunPower Corporation (Nadaq: SPWRA, SPWRB) and Q-Cells (QCE.DE) both released 3Q10 results this week.
SunPower boosted profit slightly, but reduced guidance for 4Q10. The company reported net income of $20.1 million ($0.21 per share) up from $19.5 million a year ago.
SunPower cut 4Q earnings projections to $0.95 to $1.15 per share, down from $1.05 to $1.35 per share previously.
Revenue increased 15% to $550.6 million, significantly higher than the $471.7 million expected by analysts, according to Reuters.
GAAP Gross margin fell to 20.4% from 22.9% the prior quarter.
The California-based firm also announced plan to issued EUR 200 million in bonds, which marks one fo the first major debt sales in the solar industry.
Reuters reported that the funding will be used to finance a project in Italy called Montalto 44.
Q-Cells Continues Recovery
German solar company Q-Cells made further process in its climb back toward profitability, after a dismal 2009.
The company reported a net loss of EUR 31 million, compared to a loss of EUR 932 million a year ago.
Revenue increased 79% to EUR 967 million, and the company’s shares rose by as much as 7.4%, according to Bloomberg.
Q-Cells said it has now completed the comprehensive restructuring program begun in 4Q09. Q-Cells said cost reductions are primarily a result of shifting production to Malaysia and introducing flexibility into sourcing contracts.
"The restructuring measures continue to deliver results. However, tight cost control and management of investments and the liquidity position will stay in the focus going forward," Nedim Cen, CEO of Q-Cells SE, said.
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