SunPower Profit, Sales May Rise to a Record on Solar Demand

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http://www.bloomberg.com/apps/news?pid=20601103&sid=a8gyGag0QSjU&refer=news

April 16 (Bloomberg) -- SunPower Corp., the second-biggest U.S. solar-cell maker, may report a record profit after rising oil and gas costs increased demand for alternative energy systems from Italy to California.

First-quarter net income probably rose to $12 million, or 14 cents a share, from $1.2 million, or 2 cents, a year earlier, according to the average of 12 analyst estimates compiled by Bloomberg. Sales likely soared 71 percent to $245 million, the data show.

Chief Executive Officer Thomas Werner oversaw the takeover of Italy's Solar Solutions, sold an eight-megawatt panel system in Spain and agreed to supply seven Wal-Mart Stores Inc. sites in California. SunPower, the first publicly traded U.S. solar company to announce results, may be followed by gains at First Solar Inc. and China's Suntech Power Holdings Co.

``SunPower is leading the pack in terms of efficiency and profitability,'' said Kevin Landis, chief investment officer at Firsthand Capital Management in San Francisco, which holds $750 million of investments including Suntech, Trina Solar Ltd. and SunPower's majority owner Cypress Semiconductor Corp. ``The whole industry is deep into a period of significant growth.''

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