SunPower Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, total revenue was $635,433,000, operating loss was $23,612,000, loss before income taxes and equity in earnings was $58,647,000 and net loss attributable to stockholders was $54,696,000 or $0.46 per diluted share against total revenue of $494,131,000, operating loss of $50,718,000, loss before income taxes and equity in earnings of $69,749,000 and net loss attributable to stockholders of $74,530,000 or $0.67 per diluted share for the same period a year ago. Net cash provided by operating activities was $166,863,000 and purchases of property, plant and equipment was $12,042,000 against net cash used in operating activities of $120,708,000 and purchases of property, plant and equipment of $32,782,000 a year ago. Adjusted operating income was $55,430,000 and adjusted net income per diluted share attributable to stockholders was $0.22 against adjusted operating loss of $6,102,000 and adjusted net loss per diluted share attributable to stockholders of $0.12 a year ago. Adjusted EBITDA was $70,461,000 against $21,612,000 a year ago. The company expects to generate between $100 million in $200 million of free cash, including lease financing activities in 2013 while investing approximately $80 million in CapEx for X-Series expansion in step reduction initiatives.

To provide the company's second quarter and fiscal year 2013 outlook

SunPower Corporation announced Mr. Jerome Schmitt resigned from the Board of Directors and on April 30, 2013, the Board appointed Mr. Jean-Marc Otero del Val as a member of the Board. Mr. Otero del Val has served as Vice President Strategy & Business Development in the New Energies Division of Total S.A., since July 2012 where he is also the Deputy Senior Vice President of Business Operation.