HERZILIYA PITUACH, Israel (AP) _ SolarEdge Technologies Inc. (SEDG) on Monday reported third-quarter earnings of $43.8 million.
On a per-share basis, the Herziliya Pituach, Israel-based company said it had net income of 83 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.21 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The photovoltaic products maker posted revenue of $338.1 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $342 million.
For the current quarter ending in December, SolarEdge said it expects revenue in the range of $345 million to $365 million.
SolarEdge shares have nearly tripled since the beginning of the year. In the final minutes of trading on Monday, shares hit $267.72, more than tripling in the last 12 months.
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