$ENPH
Enphase Energy, Inc.

2013 Q4 Form 10-Q Financial Statement

#000146310113000016 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $67.06M $62.05M $60.81M
YoY Change 16.48% 2.03% 35.96%
Cost Of Revenue $45.56M $44.61M $44.49M
YoY Change 9.75% 0.27% 22.95%
Gross Profit $21.50M $17.44M $16.32M
YoY Change 33.88% 6.81% 91.08%
Gross Profit Margin 32.06% 28.1% 26.84%
Selling, General & Admin $14.39M $14.49M $13.95M
YoY Change 4.99% 3.85% 63.22%
% of Gross Profit 66.92% 83.09% 85.46%
Research & Development $8.721M $8.293M $10.57M
YoY Change 2.2% -21.55% 64.38%
% of Gross Profit 40.57% 47.57% 64.76%
Depreciation & Amortization $1.900M $1.700M $1.400M
YoY Change 11.76% 21.43% 75.0%
% of Gross Profit 8.84% 9.75% 8.58%
Operating Expenses $23.11M $22.78M $24.52M
YoY Change 3.92% -7.1% 63.71%
Operating Profit -$1.611M -$5.345M -$8.197M
YoY Change -73.93% -34.79% 27.38%
Interest Expense -$700.0K $437.0K $527.0K
YoY Change -30.0% -17.08% -158.56%
% of Operating Profit
Other Income/Expense, Net -$783.0K -$815.0K -$580.0K
YoY Change -37.76% 40.52% -21.73%
Pretax Income -$2.394M -$6.160M -$8.777M
YoY Change -67.81% -29.82% 21.9%
Income Tax $416.0K $141.0K $130.0K
% Of Pretax Income
Net Earnings -$2.810M -$6.301M -$8.907M
YoY Change -63.7% -29.26% 24.12%
Net Earnings / Revenue -4.19% -10.16% -14.65%
Basic Earnings Per Share
Diluted Earnings Per Share -$66.67K -$150.7K -$218.1K
COMMON SHARES
Basic Shares Outstanding 42.04M shares 41.78M shares
Diluted Shares Outstanding 41.78M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.20M $31.80M $41.70M
YoY Change -15.67% -23.74% 57.36%
Cash & Equivalents $38.19M $31.78M $41.72M
Short-Term Investments
Other Short-Term Assets $3.700M $3.200M $7.000M
YoY Change 76.19% -54.29% 536.36%
Inventory $16.58M $24.39M $16.70M
Prepaid Expenses
Receivables $32.08M $34.74M $32.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $90.51M $94.07M $98.10M
YoY Change -4.73% -4.11% 77.08%
LONG-TERM ASSETS
Property, Plant & Equipment $24.85M $24.82M $24.90M
YoY Change -2.69% -0.31% 63.82%
Goodwill $0.00
YoY Change
Intangibles $286.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.021M $1.420M $1.000M
YoY Change -41.72% 42.0% -73.68%
Total Long-Term Assets $26.16M $26.24M $26.00M
YoY Change -4.15% 0.93% 36.84%
TOTAL ASSETS
Total Short-Term Assets $90.51M $94.07M $98.10M
Total Long-Term Assets $26.16M $26.24M $26.00M
Total Assets $116.7M $120.3M $124.1M
YoY Change -4.6% -3.05% 66.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.363M $15.10M $15.20M
YoY Change -34.68% -0.64% 1.33%
Accrued Expenses $14.78M $20.91M $15.30M
YoY Change -23.28% 36.66% 84.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $2.384M $3.432M $6.800M
YoY Change 0.0% -49.53% 94.29%
Total Short-Term Liabilities $33.37M $42.42M $38.10M
YoY Change -1.45% 11.35% 33.68%
LONG-TERM LIABILITIES
Long-Term Debt $8.677M $5.861M $5.100M
YoY Change 0.0% 14.92% -77.63%
Other Long-Term Liabilities $1.154M $435.0K $18.30M
YoY Change 275.9% -97.62% 144.0%
Total Long-Term Liabilities $43.10M $6.296M $23.40M
YoY Change 35.61% -73.09% -22.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.37M $42.42M $38.10M
Total Long-Term Liabilities $43.10M $6.296M $23.40M
Total Liabilities $76.46M $79.98M $61.60M
YoY Change 16.5% 29.83% 4.76%
SHAREHOLDERS EQUITY
Retained Earnings -$152.9M -$150.1M
YoY Change 20.4%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.21M $40.33M $62.50M
YoY Change
Total Liabilities & Shareholders Equity $116.7M $120.3M $124.1M
YoY Change -4.6% -3.05% 66.8%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$2.810M -$6.301M -$8.907M
YoY Change -63.7% -29.26% 24.12%
Depreciation, Depletion And Amortization $1.900M $1.700M $1.400M
YoY Change 11.76% 21.43% 75.0%
Cash From Operating Activities $7.600M -$500.0K -$20.50M
YoY Change -1.3% -97.56% 192.86%
INVESTING ACTIVITIES
Capital Expenditures -$1.400M -$1.400M -$3.100M
YoY Change -26.32% -54.84% 3.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.400M -$1.400M -$3.100M
YoY Change -26.32% -54.84% 3.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K -500.0K -1.700M
YoY Change -104.55% -70.59% -270.0%
NET CHANGE
Cash From Operating Activities 7.600M -500.0K -20.50M
Cash From Investing Activities -1.400M -1.400M -3.100M
Cash From Financing Activities 100.0K -500.0K -1.700M
Net Change In Cash 6.300M -2.400M -25.30M
YoY Change 75.0% -90.51% 181.11%
FREE CASH FLOW
Cash From Operating Activities $7.600M -$500.0K -$20.50M
Capital Expenditures -$1.400M -$1.400M -$3.100M
Free Cash Flow $9.000M $900.0K -$17.40M
YoY Change -6.25% -105.17% 335.0%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Significant Accounting Policies</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There have been no material changes in the Company's significant accounting policies, as compared to the significant accounting policies described in the Company's Annual Report on Form 10-K for the year ended December 31, 2012. </font></div></div>
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us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events, and apply judgments that affect the reported amounts of assets, liabilities, revenue, expenses and the related disclosures. Significant estimates and assumptions reflected in the financial statements include revenue recognition, inventory valuation and accrued warranty obligations. Actual results could differ from those estimates.</font></div></div>
CY2012Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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dei Amendment Flag
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false
dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001463101
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
42041741 shares
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Enphase Energy, Inc.

Files In Submission

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0001463101-13-000016-index.html Edgar Link pending
0001463101-13-000016.txt Edgar Link pending
0001463101-13-000016-xbrl.zip Edgar Link pending
enph-20130930.xml Edgar Link completed
enph-20130930.xsd Edgar Link pending
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