Second Quarter 2019 Highlights
Record revenues of $325.0 million
Record revenues from solar products of $306.7 million
GAAP gross margin of 34.1%
GAAP gross margin from sale of solar products of 36.4%
Non-GAAP gross margin from sale of solar products of 36.9%
GAAP net income of $33.1 million
Record Non-GAAP net income of $49.3 million
GAAP net diluted earnings per share (“EPS”) of $0.66
Record Non-GAAP net diluted EPS of $0.94
1.3 Gigawatts (AC) of inverters shipped
“We are pleased to conclude a strong second quarter of record revenues, record non-GAAP net income and record non-GAAP net diluted EPS. We continue to generate strong cash flow while strengthening our position as the global leader in the inverter market,” said Guy Sella, founder, Chairman and CEO of SolarEdge. “Despite the effect of increased tariffs on certain Chinese made products, our non-GAAP solar business gross margin was strong, at approximately 37%, slightly higher than the same quarter last year. The integration of the acquired non-solar businesses is proceeding on schedule and we expect growth in each new line of business in the upcoming quarters. We see strong customer demand for our products worldwide and we are building the needed capacity both in China and outside of China to meet the needs of our customers.”
SolarEdge Announces Second Quarter 2019 Financial Results | SolarEdge Technologies, Inc.
