SunPower sees strong demand despite industry's financial troubles

By Sahara Marte

New York, May 31 - SunPower Corp. is seeing strong interest in solar energy systems even though many companies in its industry are struggling, Thomas H. Werner, president and chief executive officer, said at the Cowen & Co. 40th annual technology, media and telecom conference.

"You see very few solar companies making money, you see market capitalization going way down, yet we have a demand environment that's quite good," Werner said in response to a question about the global solar industry.

SunPower has a 20% market share in North America, he added, and is number one in California and the residential segment.

Globally, SunPower's installations are 10% higher this year compared to last. The company has a 3% to 4% share of the global market.

SunPower reported a gross margin of 12.7% in the first quarter and more than $300 million in available cash.

The company expects to raise revenue and return on capital through innovations, particularly in Germany, Italy, Japan and China.

SunPower, based in San Jose, Calif., designs and manufactures solar electric systems for residential, commercial and utility-scale power plant customers.

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