Solar Love
  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls

Solar Love

  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls
PVSolar $

SolarEdge Reports Record Quarter Results

by Joshua S Hill November 6, 2015
written by Joshua S Hill November 6, 2015
SolarEdge Reports Record Quarter Results

Israeli-based solar PV inverter manufacturer SolarEdge reported record quarter revenue this week, taking in $115.1 million.

SolarEdge-2In the company’s first quarter-2016 financial earnings report (Q1’16), SolarEdge reported record revenue of $115.1 million, up $16.9% on the quarter-previous, and up 71.8% year-over-year. The company shipped 356 MW (AC) of solar inverters during the quarter, which according to PV-Tech equates to 1,460,000 power optimizers and 54,000 inverters, with North America remaining the company’s largest market, receiving shipments of 232 MW.

“We are very satisfied with another strong quarter of record revenues and improved gross margins,” said Guy Sella, Founder, Chairman and CEO of SolarEdge. “In addition to our very positive financial results, this quarter we introduced our new HD Wave inverter topology, demonstrating our technological leadership in the market. We are confident that our global presence and expanded product offering position us well for continued growth.”

SolarEdge-1

SolarEdge’s net income was up this quarter as well, increasing to $14.4 million from its previous $9.3 million, and $2.5 million a year earlier. Earnings per share also benefited from a strong quarter, reaching $0.32, up from $0.21 in the previous quarter, and up from $0.00 year-over-year.

Guidance for the company’s second fiscal quarter stands at expected revenue in the range of $118 million and $121 million, and gross margins between 28.0% and $30.0%.

This is at least the third quarter in a row that SolarEdge has managed to achieve record revenue, after managing the same in both its third and fourth quarters during its 2015 fiscal year, which ended on June 30. These record quarters helped push the company to a yearly total of revenue of $325.1 million — a 144% growth over the year previously — and shipments of 920 MW.

first quarterQ1'16quarterly earningsSolarEdgethird quarter
0 comment
0
FacebookTwitterPinterest
Joshua S Hill

previous post
Next-Gen Energy Storage Aims At Concentrating Solar Power Plants
next post
New York’s Affordable Solar Program Doubles Solar Incentives For Low-Income Homes

You may also like

India’s NTPC Offers Solar Project Management Services To...

June 9, 2019

Neighborhood Power Installing 10 Megawatt Solar Bifacial+Tracker Project...

November 20, 2018

EDF Renewables Commissions 110 Megawatts Of Solar In...

October 30, 2018

Maui Switches On Another 2.87 Megawatts Of Solar...

October 8, 2018

Capital Dynamics Acquires 121 Megawatt Springbok 3 Solar...

September 27, 2018

EnSync Energy Sells CAL FIRE Solar PPA Project...

August 20, 2018

Solar Bids In India Decline After Duty Reprieve

May 16, 2018

India Plans 20 Gigawatt Solar Tender To Circumvent...

May 16, 2018

Invenergy Signs PPA With Georgia Power For 160...

May 14, 2018

India’s Largest Solar Cell Manufacturer Charts Aggressive Growth...

May 10, 2018

Follow Me

Facebook

Recent Posts

  • Meet PVCase: A 3D Solar Design Software That Every PV Designer Should Consider

    June 12, 2019
  • Mitsui To Partner With Indian Company For Distributed Solar Projects

    June 10, 2019
  • India’s NTPC Offers Solar Project Management Services To ISA Members

    June 9, 2019
  • Equinor & Scatec Solar Complete 162 Megawatt Brazilian Solar Plant

    November 29, 2018
  • Gamesa Awarded 400 Megawatt Solar Project In Egypt

    November 29, 2018
  • Facebook

@2019 - All Right Reserved solarlove.org


Back To Top