Fremont, CA — May 9, 2016. SolarEdge Technologies, Inc. today announced its financial results for the fiscal third quarter ended March 31, 2016.
Fiscal Third Quarter 2016 Highlights
- Record revenue of $125.2 million, up 0.3% from last quarter and 44.9% year-over-year
- GAAP gross margin of 32.5%
- GAAP net income of $20.8 million
- Non-GAAP net income of $23.3 million
- 416 Megawatts (AC) of inverters shipped
"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,” said Guy Sella, Founder, Chairman and CEO of SolarEdge.
Outlook for the Fiscal Fourth Quarter 2016
The Company provides guidance for the fiscal fourth quarter of 2016 as follows:
- Revenues to be within the range of $125 million to $134 million;
- Gross margins to be within the range of 29.0 % to 31.0%.
Conference Call
The Company will host a conference call to discuss these results at 5:00 P.M. Eastern Time on Monday, May 9, 2016.
The full release highlighting details of its report and information on the conference call can be found on the company’s website.