Enphase Energy, Inc. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Enphase Energy, Inc. (ENPH) revealed a profit for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $45.8 million, or $0.33 per share. This compares with $113.9 million, or $0.80 per share, in last year's third quarter.

Excluding items, Enphase Energy, Inc. reported adjusted earnings of $88.4 million or $0.65 per share for the period.

Analysts on average had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 30.9% to $380.873 million from $551.082 million last year.

Enphase Energy, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $45.8 Mln. vs. $113.9 Mln. last year. -EPS (Q3): $0.33 vs. $0.80 last year. -Revenue (Q3): $380.873 Mln vs. $551.082 Mln last year.

-Guidance: Next quarter revenue guidance: $360-$400 Mln