The reported figure also exceeded the company's expectation of generating $350-390 million revenues in the first quarter. The year-over-year upside in revenues can be primarily attributed to construction revenues from solar services contracts. Furthermore, total operating expenses in the quarter declined 44.5% to $80.3 million compared with that in the first quarter of 2018. Notably, lower expenses for impairment of residential lease assets led to the downturn. Also, a gain from business divestiture caused reduction in operating expenses. These apart, SunPower made deployment of 455 megawatts (MW) in the first quarter compared with 326 MW deployed in first-quarter 2018. It also exceeded the company's expectation to deploy 360-400 MW in the reported quarter.Financial Position SunPower had cash and cash equivalents of $185.6 million as of Mar 31, 2019, compared with $309.4 million as of Dec 30, 2018. Long-term debt was $71.6 million as of Mar 31, 2019, compared with $40.5 million as of Dec 31, 2018.