BofA/Merrill Lynch Downgrades Enphase Energy (ENPH) to Underperform

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Enphase Energy Reports Financial Results for the First Quarter of 2015

May 5, 2015 4:02 PM EDT

PETALUMA, Calif., May 5, 2015 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (Nasdaq: ENPH), a leading global energy technology company, today announced financial results for the first quarter ended March 31, 2015.

Enphase Energy reported total revenue for the first quarter of 2015 of $86.7 million, an increase of 50 percent compared to the first quarter of 2014. During the first quarter of 2015, Enphase sold 162MW (AC) or 719,000 microinverters, an increase in MW of 74 percent compared to the first quarter of 2014.

GAAP gross margin for the first quarter of 2015 was 32.3 percent and non-GAAP gross margin was 32.6 percent.

GAAP operating expenses... More