SolarEdge increases revenue by 50.7 percent compared to fiscal year 2015 - increased gross margin of almost 6 percent

08/10/2016 | Print view

Solaredge reports good business and increased business outside of the USA. Shown here the crowded booth of the company at last year`s SPI in Anaheim/California. - © HCN — © HCN

Solaredge reports good business and increased business outside of the USA. Shown here the crowded booth of the company at last year`s SPI in Anaheim/California.

SolarEdge Technologies could increase its revenues in the fiscal year 2016 by 50.7 percent compared to 2015. Total shipments of solar PV inverters were 1,615 MW.

Yesterday the company announced its financial l results for the fiscal fourth quarter and year ended June 30th, 2016. For the fiscal year 2016 a revenue of $489.8 million was reported. Gross margin was 31.0%, compared to 25.2% in fiscal year 2015.

Gross margin of 31.4 percent in Q4 2015

SolarEdge reported revenues of $124.8 million for fiscal Q4 2016, a decrease of 0.4% from the prior quarter and increase of 26.8% from fiscal Q4 2015. GAAP gross margin reached 31.4% for fiscal Q4 2016, down slightly from 32.5% in the prior quarter and up from 28.7% in fiscal Q4 2015.

Record revenues

“Our fiscal 2016 results demonstrate consistent and strong execution with record revenues and 51% annual growth. We maintain our profitability and continue to generate cash flow from our operations, quarter over quarter,” Guy Sella, Founder, Chairman and CEO of SolarEdge commented.

Increased sales outside of the U.S.

“While this quarter is characterized by a general slowdown in the residential U.S. market, we were able to compensate with increased sales in other geographic regions in which we sell. We remain on target with our plans to grow our business and increase market share without sacrificing gross margins and profitability“, Sella said.

SolarEdge also provided guidance for the first fiscal quarter of 2017 as follows: Revenues to be within the range of $130 million to $139 million. Gross margins are expected to be within the range of 30% to 32%. (HCN)