SunPower Sees 227% Year Over Year Revenue Growth

SAN JOSE, Calif., Jan. 24 /PRNewswire-FirstCall/ -- SunPower Corporation (Nasdaq: SPWR) today announced financial results for the fourth quarter 2007, which ended December 30, 2007. This press release contains both GAAP and non- GAAP financial information. Non-GAAP figures are reconciled to the closest GAAP equivalent figures on the final page of this press release.

Revenue for the 2007 fourth quarter was $224.3 million, down 4.3 percent from prior-quarter revenue of $234.3 million and up 201.1 percent from year- ago fourth-quarter revenue of $74.5 million. The Components segment accounted for $100.4 million of fourth-quarter revenue, a 31.1
percent increase from prior-quarter revenue of $76.6 million. The Systems segment accounted for $123.9 million of fourth-quarter revenue, a 21.4 percent decrease from prior- quarter revenue of $157.7 million. Third-quarter 2007 revenue was significantly influenced by large scheduled project installations, particularly the Nellis Air Force Base project. 2007 fourth-quarter revenue growth, compared to the fourth quarter of 2006, was primarily driven by continued strong demand for SunPower products and systems across market segments and channels. For reporting purposes, the Systems segment generally represents products and services sold directly to the system owner, while the Components segment represents primarily
products sold to installers and resellers. Additionally, both SunPower and third-party solar panels sold through the Systems segment channels are recorded as Systems segment revenue.