EnSync Energy Reports Fourth Quarter and Fiscal Year 2018 Results
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EnSync, Inc. (ESNC) Misses Q4 EPS by 2c, Revenues Miss
September 25, 2018 4:15 PM EDTEnSync, Inc. (NYSE: ESNC) reported Q4 EPS of ($0.07), $0.02 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $1.7 million versus the consensus estimate of $4.57 million.
Revenue for fiscal 2018 was $11.9 million, compared to $12.5 million in fiscal 2017. The Company experienced construction delays for two power purchase agreement (\"PPA\") projects, and a signing delay on a third, which resulted in the shifting of revenue to the first half of fiscal 2019. For the fiscal year, the Company recognized revenue from 13 PPA projects.Significantly better operational performance in fiscal 2018 compared to fiscal 2017.... More