PETALUMA, Calif., Jan 15, 2014 (GLOBE NEWSWIRE via COMTEX) -- Enphase Energy, Inc. ENPH -1.86% , today announced a company milestone of 1GW (AC) of Enphase Microinverters shipped worldwide to date. In 2008, the company launched its first-generation microinverter system in North America. In five years the company has brought to market three succeeding technology generations while also expanding internationally.
During the fourth quarter of 2013, Enphase shipped 107MW (AC) of microinverter systems. This is an increase of 14 percent compared to the third quarter of 2013 and an increase of 30 percent year-over-year.
"We continued to see very strong business momentum during the fourth quarter, mainly driven by a healthy residential solar market in the U.S.," said Paul Nahi, CEO of Enphase. "During the fourth quarter, shipments exceeded 100MW of microinverter systems for the first time, marking another record quarter."
Enphase previously announced on November 5, 2013, that it expected revenue during the fourth quarter of 2013 to be within a range of $62 million to $65 million. As a result of the strong business momentum, Enphase currently expects revenue for the fourth quarter of 2013 to be within a range of $66 million to $67 million.
The company will release financial results for the fourth quarter of 2013 and full year 2013 in late February 2014.