FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Enphase Energy Inc. (ENPH) on Tuesday reported fourth-quarter earnings of $153.8 million.
On a per-share basis, the Fremont, California-based company said it had profit of $1.06. Earnings, adjusted for one-time gains and costs, were $1.51 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The solar technology company posted revenue of $724.7 million in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $704 million.
For the year, the company reported profit of $397.4 million, or $2.77 per share. Revenue was reported as $2.33 billion.
For the current quarter ending in March, Enphase Energy said it expects revenue in the range of $700 million to $740 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ENPH">Zacks stock report on ENPH at https://www.zacks.com/ap/ENPH