NEW YORK ( TheStreet) -- SunPower (SPWRA) reported revenue of $450 million and earnings per share of 15 cents in the first quarter after the close on Thursday, earnings that were in line with recently revised expectations, but said that the full year view remains uncertain due to the European subsidy changes.
SunPower's CFO Dennis Arriola, said in the earnings release, "We are in the process of optimizing our portfolio allocation geographically and across our downstream channels for the remainder of 2011. We expect to complete this process in the near future and plan to revise our 2011 guidance before the end of the second quarter to reflect the recent changes in Italy."
The company reaffirmed its full year shipment outlook even as Europe slows as a market for solar modules.
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