HERZILIYA PITUACH, Israel (AP) _ SolarEdge Technologies Inc. (SEDG) on Wednesday reported third-quarter earnings of $41.6 million.
On a per-share basis, the Herziliya Pituach, Israel-based company said it had net income of 81 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.21 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The photovoltaic products maker posted revenue of $410.6 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $399.7 million.
SolarEdge expects full-year revenue in the range of $410 million to $420 million.
SolarEdge shares have more than doubled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $79.91, more than doubling in the last 12 months.