SunPower Comments on Impact on Business Operations of Recent Events in Japan
15 Mar, 2011, 08:00 ET
SAN JOSE, Calif., March 15, 2011 /PRNewswire/ -- SunPower Corp. (Nasdaq: SPWRA, SPWRB) today commented on the impact of the Japanese earthquake on its supply chain operations.
Following recent events in Japan, SunPower has communicated with its Japanese suppliers in the affected regions. At this time, the suppliers have indicated that, while certain operations are currently disrupted due to infrastructure issues, they have not sustained major damage to their facilities.
Polysilicon from SunPower's Japanese suppliers will account for less than 10 percent of the company's total polysilicon supply for the second quarter of 2011, and SunPower would seek to replace any polysilicon from alternate sources to the extent events in Japan warrant such action. As a result, the company does not expect any change in its 2011 production guidance as a result of this event.
SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not represent historical facts and may be based on underlying assumptions. The company uses words and phrases such as "would," "will," "expect" and similar expressions to identify forward-looking statements in this press release, including forward-looking statements regarding the company not expecting any changes to its 2011 production guidance as a result of recent events in Japan. Such forward-looking statements are based on information available to the company as of the date of this release and involve a number of risks and uncertainties, some beyond the company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties such as: (i) the impact of the earthquake or subsequent aftershocks, the resulting tsunami that struck northern Japan, and circumstances at the nuclear power generation facilities in northern Japan, and such impact being greater than currently known or anticipated; (ii) the company's ability to obtain and maintain an adequate supply of raw materials and the prices it pays for such materials; (iii) impact on general business and economic conditions as a result of the earthquake; (iv) the recovery and reconstruction timeline of the impacted areas; (v) the availability of electricity and other resources required for suppliers' operations in northern Japan; and (vi) other risks described in the company's Annual Report on Form 10-K for the year ended January 2, 2011 and other filings with the Securities and Exchange Commission. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date, and the company is under no obligation to, and expressly disclaims any responsibility to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.
SOURCE SunPower Corp.
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