Enphase Surpasses 1GW of Microinverter System Shipments
Enphase Ships Over 100MW During Fourth Quarter 2013
PETALUMA, Calif., Jan. 15, 2014 (GLOBE NEWSWIRE) -- Enphase Energy, Inc.
(Nasdaq:ENPH), today announced a company milestone of 1GW (AC) of Enphase^®
Microinverters shipped worldwide to date. In 2008, the company launched its
first-generation microinverter system in North America. In five years the
company has brought to market three succeeding technology generations while
also expanding internationally.
During the fourth quarter of 2013, Enphase shipped 107MW (AC) of microinverter
systems. This is an increase of 14 percent compared to the third quarter of
2013 and an increase of 30 percent year-over-year.
"We continued to see very strong business momentum during the fourth quarter,
mainly driven by a healthy residential solar market in the U.S.," said Paul
Nahi, CEO of Enphase. "During the fourth quarter, shipments exceeded 100MW of
microinverter systems for the first time, marking another record quarter."
Enphase previously announced on November 5, 2013, that it expected revenue
during the fourth quarter of 2013 to be within a range of $62 million to $65
million. As a result of the strong business momentum, Enphase currently
expects revenue for the fourth quarter of 2013 to be within a range of $66
million to $67 million.
The company will release financial results for the fourth quarter of 2013 and
full year 2013 in late February 2014.
As previously announced, Kris Sennesael, CFO of Enphase, will attend and
present at the Needham Growth Conference in New York today.
About Enphase Energy, Inc.
Enphase Energy delivers microinverter technology for the solar industry that
increases energy production, simplifies design and installation, improves
system uptime and reliability, reduces fire safety risk and provides a
platform for intelligent energy management. Our semiconductor-based
microinverter system converts energy at the individual solar module level and
brings a systems-based, high technology approach to solar energy generation.
Connect with Enphase on Facebook and follow us on Twitter. www.enphase.com
This press release contains forward-looking statements, including, but not
limited to, statements related to Enphase Energy's expected fourth quarter
financial performance and market demands for its microinverters. These
forward-looking statements are based on the Company's current expectations and
inherently involve significant risks and uncertainties. Enphase Energy's
actual results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these risks and
uncertainties, including the completion of the company's closing processes for
the fourth quarter and full year of 2013 and the risks included under the
captions "Risk Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in the Company's Annual Report on Form
10-K for the year ended December 31, 2012, and Form 10-Q for the quarter ended
September 30, 2013, which are on file with the SEC and available on the SEC's
website at www.sec.gov. All information set forth in this press release is as
of January 15, 2014.Enphase Energy undertakes no duty or obligation to update
any forward-looking statements contained in this release as a result of new
information, future events or changes in its expectations.
Enphase Energy®, the Enphase logo and other trademarks or service names are
the trademarks of Enphase Energy, Inc.
CONTACT: Christine Bennett, Enphase Energy
Global Corporate Communication Manager
Enphase Energy, Inc. Logo
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