Enphase increases revenue and reduces losses in the fourth quarter
Post date: 20/02/2014
US solar microinverter producer Enphase Energy Inc. recorded a significant increase in revenue and reduced its losses in the fourth quarter of 2013. Enphase reported total revenue of $67.0 million for the period, up 16% from $57.5 million in the same quarter of the previous year. The company was also able to drastically reduce its net loss from $7.7 million in the fourth quarter of 2012 to $2.8 million in the latest quarter. The operating loss was also reduced year on year from $6.1 million to $1.6 million. Enphase CEO Paul Nahi said: »We posted the highest revenue in our company's history, shipping over 100 MW for the first time in any quarter, while our record gross margin marks the first time we have exceeded 30%t in any quarter.«
As for full fiscal year 2013, the company was able to slightly increase its revenue to $232.8 million. In 2012, the company’s turnover was $216.6 million. Furthermore, Enphase narrowed its net loss from $38.2 million in 2012 to $25.9 million last year.
Looking forward, the company expects revenue for the first quarter of 2014 to be in the range of $54 million to $57 million.