SunPower posts smaller loss on cost cuts

Thu Nov 1, 2012 4:37pm EDT

(Reuters) - U.S. solar company SunPower Corp (SPWR.O) reported a decline in quarterly loss as it generated more revenue from North America and cut panel costs.

The company, which is majority owned by France's Total SA (TOTF.PA), lost $48.5 million, or 41 cents per share, in the third quarter. SunPower had a loss of $370.8 million, or $3.77 per share, a year earlier.

Revenue from North America rose 36 percent.

Total Revenue fell 8 percent to $648.9 million and selling costs declined 10 percent.

(Reporting by Swetha Gopinath in Bangalore and Nichola Groom; Editing by Sreejiraj Eluvangal)