FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Enphase Energy Inc. (ENPH) on Tuesday reported fourth-quarter profit of $38.7 million.
The Fremont, California-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time gains and costs, came to 71 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The solar technology company posted revenue of $343.3 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $334.6 million.
For the year, the company reported profit of $172.1 million, or $1.29 per share. Revenue was reported as $1.47 billion.
For the current quarter ending in March, Enphase Energy said it expects revenue in the range of $270 million to $300 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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