SunPower reports 4Q loss

SAN JOSE, Calif. (AP) _ SunPower Corp. (SPWR) on Wednesday reported a loss of $275.1 million in its fourth quarter.

The San Jose, California-based company said it had a loss of $1.99 per share. Losses, adjusted for one-time gains and costs, were 64 cents per share.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.

The solar products and services company posted revenue of $1.02 billion in the period. Its adjusted revenue was $1.1 billion.

For the year, the company reported that its loss widened to $471.1 million, or $3.41 per share. Revenue was reported as $2.7 billion.

For the current quarter ending in April, SunPower said it expects revenue in the range of $370 million to $420 million. Analysts surveyed by Zacks had expected revenue of $455 million.

The company expects full-year revenue in the range of $2.1 billion to $2.6 billion.

SunPower shares have climbed roughly 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.25, a decline of 69 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPWR at https://www.zacks.com/ap/SPWR

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Keywords: SunPower, Earnings Report