Another California solar company with federal loan reports huge loss

November 4th, 2011

Another California solar company with federal loan reports huge loss

SunPower Corp., a San Jose-based solar power company that received a last-minute Department of Energy loan in September, announced today that it lost more than $370 million in its fiscal third quarter – more than double its second-quarter loss – and that its chief financial officer would resign.

The company said it also would likely lose money in its fourth quarter and would embark on a “reorganization” that would lead to job cuts.

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California Watch, the largest investigative journalism team operating in the state, was launched in 2009 by the nonprofit, nonpartisan Center for Investigative Reporting. Areas of coverage include education, health and welfare, public safety, the environment and the influence of money on the political and regulatory process.

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Another California solar company with federal loan reports huge loss

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