Yes it does. Look at the user manual that came with it, and you'll see that it goes through several stages. Bulk and float. With each voltage and amperage are regulated by high speed switching (PWM) of your dumpload. The current and voltage are manipulated by variating the on-off time, by letting the battery take the incoming charge, or activating the dumpload, which basically uses up the incoming power (and then some) so the battery doesn't get overcharged. So, you got to make sure your dumpload is a wattage that is at least as large as your maximum incoming source.
In short, the controller is nothing more than a fancy switch that turns the dumpload on and off as needed to maintain safe battery conditions.