Stock Earnings Roundup: SolarEdge Technologies, Inc. (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported earnings for the three months ended Mar2016 on May 09, 2016. The company earned $0.51 per share on revenue of $125.21M. Analysts had been modeling earning per share of $0.4 with $123.25M in revenue.

SolarEdge Technologies, Inc. (SEDG) on May 09, 2016 announced its financial results for the fiscal third quarter ended March 31, 2016.

Fiscal Third Quarter 2016 Highlights

• Record revenue of $125.2 million, up 0.3% from last quarter and 44.9% year-over-year


• GAAP gross margin of 32.5%


• GAAP net income of $20.8 million


• Non-GAAP net income of $23.3 million


• 416 Megawatts (AC) of inverters shipped

“We are pleased with another strong quarter despite challenging market conditions. Our growing customer base, continued diligent execution, strong balance sheet and increased cash flow from operations, coupled with our advanced technology, position us well moving forward,” said Guy Sella, Founder, Chairman and CEO of SolarEdge.

Revenues

The Company reported revenues of $125.2 million, an increase of $0.4 million, or 0.3% from the prior quarter and an increase of $38.8 million or 44.9% from the fiscal third quarter of 2015.

Gross margins

GAAP gross margin was 32.5%, up from 30.9% in the prior quarter and up from 27.4% in the fiscal third quarter of 2015. Non-GAAP gross margin was 32.7%, up from 31.1% in the prior quarter and 27.6% in the fiscal third quarter of 2015. See “Reconciliation on Non-GAAP Measures” below.

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SolarEdge Technologies, Inc. earnings per share showed an increasing trend of 198.8% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 211%.Analysts project EPS growth over the next 5 years at 51.05%. It has EPS annual growth over the past 5 fiscal years of 25.8% when sales grew 141.8. It reported 44.9% sales growth, and 197.7% EPS growth in the last quarter.

The stock is trading at $21.6, up 43.81% from 52-week low of $15.02. The stock trades down -49.77% from its peak of $43 and 47.73% above the consensus price target of $31.91. Its volume clocked up at 0.37 million shares which is lower than the average volume of 1.15 million shares. Its market capitalization currently stands at $879.77M.