This from a Piper note that comes up under STP and not SPWRA for some reason:
SunPower Corp. (SPWRA - $25.56)
Clean Technology & Renewables
SunPower Cautious on Q1
At our Piper Jaffray conference on Feb 19, 2009, SunPower indicated that Q109
would likely not be as bad as Q108. However, on March 10th SPWR presented at a
competitor conference. In response to a question, SPWR stated that Q109 is likely
below Q108 levels due to 1) a slow California market, 2) seasonality in Germany,
and 3) impact from global credit crisis. The company at this point does not know if
Q209 will make up for Q109 weakness. Thus, SunPower is clearly lowering
In March of 2008 they reported 273.7 mil. The street has 333.4 mil modeled for March of 2009. It reads like they’re saying it’ll be 15-20% below expectations.
Disclosure: I shorted a lot of SPWRA after reading the note.