Solaredge decreased revenue and net income in the quarter ended December 31
Post date: 16/02/2017 - 16:08
Inverter manufacturer Solaredge Technologies, Inc. reported revenues of $111.5 million for the calendar quarter ended December 31, 2016 (the company’s second financial Quarter, FQ), 13 percent down from the prior quarter and of 11 percent year over year. Net income was $9.8 million, down from $15.6 million in the prior quarter and from $24.1 million year over year. Inverter shipments in FQ2 2017 amounted to 413 MW, compared to 416 MW in FQ2 2016.
»We continued our cost reduction measures yielding solid operating income and record gross margin despite lower revenues than in previous quarters,« said Guy Sella, Founder, Chairman and CEO of Solaredge. »We remain confident in our ability to grow revenues and profitability in 2017.« For the quarter ending March 31, 2017 the company expects revenues to be within the range of $110 million to $120 million.