HERZILIYA PITUACH, Israel (AP) — HERZILIYA PITUACH, Israel (AP) — SolarEdge Technologies Inc. (SEDG) on Wednesday reported a loss of $57.4 million in its first quarter.
On a per-share basis, the Herziliya Pituach, Israel-based company said it had a loss of 95 cents. Losses, adjusted for stock option expense and non-recurring costs, were 43 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The photovoltaic products maker posted revenue of $310.5 million in the period, which topped Street forecasts. Nine analysts surveyed by Zacks expected $303.4 million.
For the current quarter ending in June, SolarEdge said it expects revenue in the range of $325 million to $355 million.
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