Enphase Energy: 1Q Earnings Snapshot

FREMONT, Calif. (AP) _ Enphase Energy Inc. (ENPH) on Tuesday reported first-quarter net income of $68.9 million.

On a per-share basis, the Fremont, California-based company said it had profit of 50 cents. Earnings, adjusted for non-recurring gains, were 38 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The solar technology company posted revenue of $205.5 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $203.6 million.

For the current quarter ending in July, Enphase Energy said it expects revenue in the range of $115 million to $130 million.

Enphase Energy shares have climbed 70% since the beginning of the year. The stock has more than tripled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ENPH at https://www.zacks.com/ap/ENPH