Enphase Energy (ENPH) Misses Q1 EPS by 4c
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Enphase Energy Reports Financial Results for the First Quarter of 2017
May 9, 2017 4:05 PM EDTPETALUMA, Calif., May 09, 2017 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the worlds leading supplier of solar microinverters, announced today financial results for the first quarter ended March 31, 2017.
Enphase Energy reported total revenue for the first quarter of 2017 of $54.8 million. During the first quarter of 2017, Enphase sold approximately 138MW (AC) or 573,000 microinverters. GAAP gross margin for the first quarter of 2017 was 12.9 percent and non-GAAP gross margin was 13.3 percent. Gross margin was lower than expected primarily as a result of cost absorption on decreased revenue volume.
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