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Sunpower Corp (SPWR) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 29, 2019

Sunpower Corp

CIK: 867773 Ticker: SPWR


Exhibit 99.1

Contacts:

Investors
Bob Okunski
408-240-5447
Bob.Okunski@sunpower.com

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Natalie Wymer
408-457-2348
Natalie.Wymer@sunpower.com

SunPower Reports Fourth Quarter and Fiscal Year 2019 Results
Strong Distributed Generation Market Demand, Materially Delevered Balance Sheet

SAN JOSE, Calif., Feb. 12, 2020
- SunPower Corp. (NASDAQ: SPWR) today announced financial results for its fourth quarter ended Dec. 29, 2019.

Fourth Quarter Company Highlights
Strong demand in U.S. and international distributed generation (DG) markets
Exceeded fourth quarter cash target, successful capital raise, business unit cash generation
Announced decision to create two strategically-aligned, and independent companies
SunPower Energy Services (SPES)
Record fourth quarter residential revenue with 27 percent megawatt (MW) growth versus fourth quarter 2018
Positive field results from residential Equinox Storage product beta tests
Strong commercial direct origination performance - restructuring commercial execution organization
SunPower Technologies (SPT)
Record global shipments - more than 80 percent year over year volume growth
Announced proposed spin-off of Maxeon Solar Technologies (Maxeon Solar) to shareholders
$298 million TZS equity investment in Maxeon Solar to accelerate Maxeon-5 capacity ramp





The following information was filed by Sunpower Corp (SPWR) on Wednesday, February 12, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Sunpower Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Condensed Consolidated Balance Sheets (Parentheticals)
Condensed Consolidated Statements Of Cash Flows (Parentheticals)
Consolidated Balance Sheets
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity (Deficit)
Consolidated Statements Of Operations
Balance Sheet Components
Balance Sheet Components (Details)
Balance Sheet Components (Tables)
Balance Sheet Components - Accrued Liabilities (Details)
Balance Sheet Components - Accumulated Other Comprehensive Loss (Details)
Balance Sheet Components - Allowances (Details)
Balance Sheet Components - Inventory (Details)
Balance Sheet Components - Other Long-Term Assets (Details)
Balance Sheet Components - Other Long-Term Liabilities (Details)
Balance Sheet Components - Prepaid Expenses And Other Current Assets (Details)
Balance Sheet Components - Property, Plant And Equipment, Net (Details)
Balance Sheet Components - Property, Plant And Equipment, Net By Geography (Details)
Business Divestiture And Sale Of Assets
Business Divestiture And Sale Of Assets (Tables)
Business Divestiture And Sale Of Assets - Gain On Sale Of Residential Lease Portfolio (Details)
Business Divestiture And Sale Of Assets - Net Gains On Sale Of Commercial Sale-Leaseback Portfolio (Details)
Business Divestiture And Sale Of Assets - Net Loss On Sale Of Residential Lease Portfolio (Details)
Business Divestiture And Sale Of Assets - Sale And Leaseback Of Hillsboro Facility (Details)
Business Divestiture And Sale Of Assets - Sale Of Commercial Sale-Leaseback Portfolio (Details)
Business Divestiture And Sale Of Assets - Sale Of Commercial Sale-Leaseback Portfolio Narrative (Details)
Business Divestiture And Sale Of Assets - Sale Of Residential Lease Assets Narrative (Details)
Business Divestiture And Sale Of Assets - Sale Of Residential Lease Portfolio (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Facility And Equipment Leases (Details)
Commitments And Contingencies - Future Maturities (Details)
Common Stock
Common Stock (Details)
Common Stock (Tables)
Debt And Credit Sources
Debt And Credit Sources (Tables)
Debt And Credit Sources - Narrative (Details)
Debt And Credit Sources - Non-Recourse Debt (Details)
Debt And Credit Sources - Schedule Of Convertible Debt (Details)
Debt And Credit Sources - Schedule Of Debt (Details)
Debt And Credit Sources - Schedule Of Maturities (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Details)
Derivative Financial Instruments (Tables)
Equity Investments
Equity Investments - Consolidated Vies (Details)
Equity Investments - Equity Method Investments (Details)
Equity Investments - Narrative (Details)
Equity Investments - Related Party Transactions With Investees (Details)
Equity Investments - Sunstrong Llc (Details)
Equity Investments Equity Investments (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Fair Value Measurements - Equity Method Investments Activity (Details)
Fair Value Measurements - Level 3 Significant Unobservable Input Sensitivity (Details)
Fair Value Measurements - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Carryforwards (Details)
Income Taxes - Classification Of Interests And Penalties (Details)
Income Taxes - Components Of Income Tax (Details)
Income Taxes - Deferred Tax Assets (Details)
Income Taxes - Effective Income Tax Reconciliation (Details)
Income Taxes - Narrative (Details)
Income Taxes - Unrecognized Tax Benefits Activity (Details)
Income Taxes - Unrecognized Tax Benefits Narrative (Details)
Income Taxes - Valuation Allowance (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Details)
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Antidilutive Shares (Details)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Policies)
Organization And Summary Of Significant Accounting Policies (Tables)
Organization And Summary Of Significant Accounting Policies - Advertising Costs (Details)
Organization And Summary Of Significant Accounting Policies - Concentration Risks (Details)
Organization And Summary Of Significant Accounting Policies - Fair Value Of Financial Instruments (Details)
Organization And Summary Of Significant Accounting Policies - Financing Receivables (Details)
Organization And Summary Of Significant Accounting Policies - Impact Of New Leasing Guidance (Details)
Organization And Summary Of Significant Accounting Policies - Lease Accounting (Details)
Organization And Summary Of Significant Accounting Policies - Liquidity (Details)
Organization And Summary Of Significant Accounting Policies - Product Warranties (Details)
Organization And Summary Of Significant Accounting Policies - Property, Plant And Equipment (Details)
Organization And Summary Of Significant Accounting Policies- Revenue Recognition (Details)
Restructuring
Restructuring (Details)
Restructuring (Tables)
Restructuring - Charges Comparison (Details)
Restructuring - Rollforward (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Segment And Geographical Information
Segment And Geographical Information (Narrative) (Details)
Segment And Geographical Information (Tables)
Segment And Geographical Information - Property, Plant And Equipment, Net (Details)
Segment And Geographical Information - Reconciliation Of Other Significant Reconciling Items From Segments To Consolidated (Details)
Segment And Geographical Information - Reconciliation Of Segment Gross Profit To Condensed Consolidated Gaap Gross Profit (Details)
Segment And Geographical Information - Reconciliation Of Segment Revenue To Condensed Consolidated Gaap Revenue (Details)
Segment And Geographical Information - Reconciliation Of Segments Ebitda To Loss Before Income Taxes And Equity In Earnings (Losses) Of Unconsolidated Investees (Details)
Segment And Geographical Information - Revenue From External Customers By Geographic Areas (Details)
Segment And Geographical Information - Significant Customer (Details)
Selected Unaudited Quarterly Financial Data
Selected Unaudited Quarterly Financial Data (Details)
Selected Unaudited Quarterly Financial Data (Tables)
Solar Services
Solar Services (Details)
Solar Services (Tables)
Solar Services - Narrative (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Compensation Expense (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Restricted Shares (Details)
Subsequent Events
Subsequent Events (Details)
Transactions With Total And Total S.A.
Transactions With Total And Total S.A. (Details)
Transactions With Total And Total S.A. (Tables)
Transactions With Total And Total S.A. - Revenue From Related Parties (Details)
Transactions With Total And Total S.A. - Schedule Of Related Party Transactions (Details)
Ticker: SPWR
CIK: 867773
Form Type: 10-K Annual Report
Accession Number: 0000867773-20-000010
Submitted to the SEC: Fri Feb 14 2020 7:47:33 PM EST
Accepted by the SEC: Tue Feb 18 2020
Period: Sunday, December 29, 2019
Industry: Semiconductors And Related Devices

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