SunPower Forecasts Lower-than-Estimated 2015 Profit

SunPower Corp, the second-largest maker of solar panels in the United States, forecast a much lower-than-estimated 2015 profit, sending its shares down 11 percent.

The company expects to earn between $1.10 and $1.50 per share, excluding items, for the next year.

Analysts on average were expecting an adjusted profit of $1.69 per share, according to Thomson Reuters I/B/E/S.

The company's shares were down 8 percent at $26.83 in early trading on the Nasdaq.

(Reporting By Shubhankar Chakravorty in Bangalore; Editing by Maju Samuel)