FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Enphase Energy Inc. (ENPH) on Tuesday reported fourth-quarter net income of $62.2 million.
On a per-share basis, the Fremont, California-based company said it had profit of 45 cents. Earnings, adjusted for one-time gains and costs, came to 94 cents per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The solar technology company posted revenue of $382.7 million in the period, also beating Street forecasts. Fourteen analysts surveyed by Zacks expected $376 million.
For the year, the company reported profit of $102.7 million, or 75 cents per share. Revenue was reported as $1.33 billion.
For the current quarter ending in March, Enphase Energy said it expects revenue in the range of $340 million to $380 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ENPH at https://www.zacks.com/ap/ENPH
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