Sunedison Inc SUNE announced financial results Wednesday for the fourth quarter of 2014 and missed revenue expectations but posted a narrower than expected loss.
Non-GAAP revenue came in at $625.5 million, below estimates of $683.56 million and the $960.7 million reported in the prior year period.
Non-GAAP EPS was $(0.16), better than the expected $(0.33) and the $(0.48) in the year ago period.
GAAP EPS was $(0.89) on GAAP revenues of $610.5 million.
Capital expenditures were $47.8 million in the fourth quarter, of which $23.1 million was incurred in the Semiconductor Materials segment.
The company also incurred $158.9 million to secure wind turbines expected to result in 1.6 GW of PTC-eligible wind projects.
The company also invested $304.3 million in acquisitions and ended the fourth quarter with cash and cash equivalents of $943.7 million.
CEO Ahmad Chatila said, "During the fourth quarter, we continued our record of strong execution as we reached new quarterly and annual milestones by completing all-time highs of 383 MW during the quarter and 1,048 MW for the year while growing our pipeline to 5.1 GW and our backlog to 2.6 GW.”
Sunedison traded at $21.05 in the after-hours session, down 4.4 percent.
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