why SunPower's 2013 Q2 tax rate is so low (only 1.9%) ?# Stock
r*b
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There is an intersting data in SPWR's Q2 report. The Q2 Tax rate is 1.9%,
while the earlier quaters have >36% tax rate. Does anyone know why there is
such a difference?
Non-GAAP (in millions $ except EPS) Non-GAAP
Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012
Tax rate 1.9% 36.4% 52.0% 386.2% 45.6%
Revenue $650.0 $574.6 $784.6 $606.7 $650.7 Revenue $550 - $600 $2,500 - $2,
600
Gross Margin 19.5% 22.7% 18.7% 14.1% 15.1% Gross Margin 17-19% 18-20%
Operating Income $59.9 $55.4 $58.7 $10.7 $32.1
EPS (diluted) $0.48 $0.22 $0.18 $0.03 $0.08 EPS (diluted) $0.15-$0.35 $1.00-
$1.30
Share Count (m) 129.7 125.5 120.0 119.2 118.9
EBITDA $101.3 $77.7 $81.2 $36.2 $57.6
while the earlier quaters have >36% tax rate. Does anyone know why there is
such a difference?
Non-GAAP (in millions $ except EPS) Non-GAAP
Q2 2013 Q1 2013 Q4 2012 Q3 2012 Q2 2012
Tax rate 1.9% 36.4% 52.0% 386.2% 45.6%
Revenue $650.0 $574.6 $784.6 $606.7 $650.7 Revenue $550 - $600 $2,500 - $2,
600
Gross Margin 19.5% 22.7% 18.7% 14.1% 15.1% Gross Margin 17-19% 18-20%
Operating Income $59.9 $55.4 $58.7 $10.7 $32.1
EPS (diluted) $0.48 $0.22 $0.18 $0.03 $0.08 EPS (diluted) $0.15-$0.35 $1.00-
$1.30
Share Count (m) 129.7 125.5 120.0 119.2 118.9
EBITDA $101.3 $77.7 $81.2 $36.2 $57.6