SolarEdge Technologies Inc. (NASDAQ: SEDG) reported its fiscal third-quarter financial results after the markets closed on Monday. The company said it had a $0.51 in earnings per share (EPS) on $125.2 million in revenue. That compared to consensus estimates of $0.39 in EPS on revenue of $122.9 million. In the same period of last year, the company posted EPS of $0.20 and $86.4 million in revenue.
In terms of guidance for the fiscal fourth-quarter, SolarEdge expects to have revenues within the range of $125 million to $134 million and gross margins in the range of 29% to 31%. Consensus estimates call for $0.48 in EPS on $134.54 million in revenue.
One of the highlights that this company noted was that it shipped 416 megawatts (AC) of inverters in the third quarter.
During this quarter, the company generated $15.3 million in cash flow from operating activities. On the books, cash, cash equivalents and marketable securities totaled roughly $129 million at the end of the quarter, compared to $145 million at the end of 2015.
[nativounit]
Guy Sella, founder, chairman and CEO of SolarEdge, commented:
We are pleased with another strong quarter despite challenging market conditions. 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.
Shares of SolarEdge were trading down about 21% at $17.86 late Tuesday morning, with a consensus analyst price target of $35.73 and a 52-week trading range of $15.02 to $43.00.
Top Gaining Stocks
Top Losing Stocks