SolarEdge Technologies, Inc. (Herzelya Pituach, Israel) on May 9th, 2016 announced its financial results for the fiscal third quarter ended March 31st, 2016 including a record revenue of USD 125.2 million, up 0.3% from last quarter and 44.9% year-over-year.
The company shipped 416 megawatts (AC) of solar PV inverters in fiscal Q3.
“We are pleased with another strong quarter despite challenging market conditions,” comments Guy Sella, Founder, Chairman and CEO of SolarEdge.
“Our growing customer base, continued diligent execution, strong balance sheet and increased cash flow from operations, coupled with our advanced technology, position us well moving forward.”
GAAP gross margin was 32.5%, up from 30.9% in the prior quarter and up from 27.4% in the fiscal third quarter of 2015.
GAAP net income was USD 20.8 million, down from USD 24.1 million in the prior quarter (including a one-time USD 6.6 million tax asset) and up from USD 6.0 million in the fiscal third quarter of 2015.
GAAP net diluted earnings per share (EPS) was USD 0.47, down from USD 0.55 in the prior quarter (including the one-time USD 6.6 million tax asset) and up from USD 0.01 in the fiscal third quarter of 2015.
The Company expects revenues to be within the range of USD 125 million to USD 134 million for the fiscal fourth quarter of 2016 as follows. Q4, gross margin guidance is in the range of 29.0 % to 31.0%.
source:http://www.solarserver.com
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