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Solaredge Shares Fall Amid Weak Guidance, Disappointing Revenues

Solaredge Shares Fall Amid Weak Guidance, Disappointing Revenues - SolarEdge Technologie NASDAQ:SEDG

Solaredge Technologies Inc SEDG 4.9% released its Q4 results after market close on Tuesday. Earnings per share came in above Wall Street consensus expectations, however, shares fell 6 percent due to the company's miss on sales estimates.

Solaredge Technologies reported EPS of $0.44 and revenues of $124.8 million. Analyst consensus had an EPS estimate of $0.41 and revenues of $129.49 million.

Company management saw Q1 revenues to be between $130-$139 million vs. estimates of $139.43 and gross margins within 30-32 percent.

"Our fiscal 2016 results demonstrate consistent and strong execution with record revenues and 51% annual growth. We maintain our profitability and continue to generate cash flow from our operations, quarter over quarter. While this quarter is characterized by a general slowdown in the residential U.S. market, we were able to compensate with increased sales in other geographic regions in which we sell," said Guy Sella, Founder, Chairman and CEO of SolarEdge.

"We remain on target with our plans to grow our business and increase market share without sacrificing gross margins and profitability," stated Sella.

At time of writing, Solaredge Technologies traded at $17.75 in Tuesday's after-hours session, down 6 percent.

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