SunPower Q2 ex-items of 15 cts tops Wall St's 10 cts
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NEW YORK, Aug 10 (Reuters) – Photovoltaic solar company SunPower Corp (SPWRA. Quote) posted better-than-expected quarterly earnings and said its profit margins would rise in the second half of the year as it trimmed manufacturing costs.
The company, maker of high efficiency solar panels, said its joint venture with Taiwan's AU Optronics (2409.TW: Quote) for a new manufacturing plant in Malaysia would speed its production cost cuts, which in turn would help make its existing plants more profitable.
"We can realistically be impacting 2011 results … even as soon as the first half," Chief Executive Tom Werner told Reuters.
Robust demand for solar cells and modules has lifted sales across the sector so far this year. But with many major producers adding factories, companies that are currently sold out of supplies are likely to see a very different market in the coming months, Werner said.
"We see new manufacturing capacity is starting to catch up to demand. As early as next year, we will start to see a transition to a buyer's market," Werner told a conference call.
