- Sunworks (NASDAQ:SUNW) is up 3.8% after hours following a beat in its Q4 revenues and what would have been a narrow profit without a goodwill impairment.
- Revenues fell fractionally, and the company lost $1.8M as reported. That included a $1.9M noncash charge, however, and net income would have been $51,000 without it.
- Gross margin was 18.6%, the highest in six quarters.
- Backlog of projects scheduled for installation in the next 12 months was $46.1M.
- For Q1, the company's guiding to seasonally slow revenues exacerbated by unusually rainy California weather: similar to the prior year, about $13M, but increasing throughout 2019.
- It expects a Q1 loss but positive net income in subsequent quarters this year.
- Previously: Sunworks beats on revenue (Mar. 12 2019)
- Press release