Well, I guess the streak had to end sometime. SunPower
Remember when First Solar
This stumble, in which SunPower has reported both a small loss for the quarter and a reduced outlook for 2009, is definitely not occurring in isolation. Energy Conversion Devices
I won't dwell too much on the ugly numbers, but I'll note that revenue fell from over $400 million last quarter to just $214 million. As long as customers lack access to project finance, this is a seriously stunted solar shop. And it's one of the strongest in the space!
Like ECD, SunPower is pulling in its horns in response to these wretched conditions. Capital spending plans have been cut by $100 million, which will push a large part of the next Malaysian facility buildout into 2010. Also, some "basically complete" production lines will not be ramped up until demand bounces back, which will help free up working capital and cut back on depreciation expenses.
On the conference call, the company's new CFO -- brought on in part for his experience at Sempra Energy
Ultimately, while current enthusiasm centers around Chinese players like Yingli Green Energy