28 Feb '18, 12am

Enphase Marks a Year of Restructuring as it Narrows 2017 Losses

Enphase Marks a Year of Restructuring as it Narrows 2017 Losses

Solar microinverter maker Enphase Energy reported fourth quarter and annual 2017 results Tuesday that beat analyst expectations. Lower revenues for the year were counterbalanced by cost-cutting and streamlining efforts as Enphase seeks to maintain market share against rival solar panel-level power electronics maker SolarEdge. The Petaluma, Calif.-based company reported fourth-quarter revenue of $79.7 million, at the higher end of analyst guidance, with 755,000 microinverters, or about 221 megawatts DC capacity, shipped in the quarter. Gross margins of 23.8 percent showed an improvement over the same quarter in the previous year, and GAAP operating loss stood a $2.1 million, or 3 cents per share. On an annual basis, Enphase recorded lower revenues than the prior year, but also reduced operating losses significantly to reduce its net annual loss to $45,192, or 54 cents per s...

Full article: https://www.greentechmedia.com/articles/read/enphase-mark...

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