SolarEdge Technologies, Inc. (SEDG)

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SEDG Fourth Quarter 2016 Summary

The Company reported revenues of $124.8 million for fiscal Q4 2016, a decrease of 0.4% from the prior quarter and increase of 26.8% from fiscal Q4 2015.

GAAP gross margin reached 31.4% for fiscal Q4 2016, down slightly from 32.5% in the prior quarter and up from 28.7% in fiscal Q4 2015.

Non-GAAP gross margin was 31.6% for fiscal Q4 2016, down slightly from 32.7% in the prior quarter and up from 28.9% in fiscal Q4 2015.

GAAP operating expenses were $21.2 million for fiscal Q4 2016, consistent with $21.0 million, from the prior quarter and an increase from $16.4 million in fiscal Q4 2015.

GAAP operating income was $17.9 million for fiscal Q4 2016, down from $19.7 million in the prior quarter and up from $11.9 million in fiscal Q4 2015.

GAAP net income was $17.3 million for fiscal Q4 2016, down from $20.8 million in the prior quarter and up from $9.3 million in fiscal Q4 2015.

Non-GAAP net income was $19.9 million for fiscal Q4 2016, a decrease from $23.3 million in the prior quarter and an increase from $13.8 million in fiscal Q4 2015.

GAAP net diluted earnings per share (“EPS”) was $0.39 for fiscal Q4 2016, down from $0.47 in the prior quarter and up from $0.21 in fiscal Q4 2015.

Non-GAAP net diluted EPS was $0.44 for fiscal Q4 2016, a decrease from $0.51 in the prior quarter and an increase from $0.31 in fiscal Q4 2015