SolarEdge Results Surpass Estimates, Outlook Strong; Stock Up 9%

(RTTNews) - Inverter solutions provider SolarEdge Technologies Inc (SEDG) on Wednesday reported fourth-quarter net earnings of $9.3 million or $0.21 per share compared with a loss of $3 million or $1.08 per share last year.

Excluding items, adjusted earnings for the quarter were $0.31 per share compared with a loss of $0.10 per share a year ago.

Revenues for the quarter were up at $98.4 million compared with $44.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.22 per share on revenues of $95.2 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin improved to 28.7% from 19.6% last year.

For the first quarter, the company expects revenues of $108 million to $112 million, while analysts expect $101.7 million.

SolarEdge makes DC optimized inverter systems for solar PV installations.