Enphase Energy Inc (NASDAQ:ENPH, ETR:E0P), the solar inverter maker, said demand for installations should improve over the coming months.
"We have been managing through a period of slowdown in demand,” chief executive Badri Kothandaraman said, following a near 60% drop in fourth-quarter revenue to $302.6 million.
“We think the first quarter could be the bottom quarter,” he added.
“Europe is already showing early signs of recovery and we expect the non-California states to bounce back quickly.”
Analysts expect Enphase to report revenue of $318.3 million for the coming quarter to March, above the company’s anticipation for between $260 million and $300 million.
Shares were flat in pre-market trading, after climbing almost 20% to $118.78 on Wednesday.