Inverter manufacturer Enphase Energy reported revenue of US$57.6 million for the first quarter of 2014, up 26% on the same period last year.
Microinverter sales grew 37% in the same period to 93MW.
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The company is continuing its growth outside of the US, with a dedicated Asia-Pacific office opened in Australia last month. The company said growth in overseas markets had compensated for the effects of severe weather in North America during the quarter.
“Demand for our microinverter systems was strong in both our core domestic and international markets, resulting in a 26% increase in revenue on a year-over-year basis,” said Paul Nahi, CEO, Enphase.
“In particular, I am excited with the impressive revenue growth in our EMEA business led by the UK where revenue was up over 60% sequentially and our early success in the Australian market.”
Net loss fell from US$10.4 million in the first quarter of 2013 to US$6.2 million in Q1 2014.
The company said it expected revenues for the second quarter of 2014 to fall between US$69 million and US$73 million. Revenue in the second quarter of 2013 was US$58.2 million.
