Enphase Energy, Inc. Q2 Profit Decreases, Misses Estimates

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

The company's earnings came in at $10.8 million, or $0.08 per share. This compares with $157.2 million, or $1.09 per share, in last year's second quarter.

Excluding items, Enphase Energy, Inc. reported adjusted earnings of $58.8 million or $0.43 per share for the period.

Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 57.3% to $303.5 million from $711.1 million last year.

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

-Earnings (Q2): $10.8 Mln. vs. $157.2 Mln. last year. -EPS (Q2): $0.08 vs. $1.09 last year. -Revenue (Q2): $303.5 Mln vs. $711.1 Mln last year.

-Guidance: Next quarter revenue guidance: $370.0 - $410.0 mln