Solar-power systems installer SolarCity Corp. late Tuesday reported a first-quarter loss $21.5 million, or 22 cents a share. Adjusted for one-time items, the company lost $147 million, or $1.52 a share, compared with a loss of 82 cents a share a year ago. The company said revenue hit $67.5 million, up 6% compared with the first quarter of 2014. Analysts polled by FactSet had expected a loss of $1.60 a share on sales of $57.7 million. Sales and marketing expenses grew 85% year-over-year to $86.7 million, largely due to a 90% increase in the company's sales force over the last twelve months, SolarCity said. Shares declined 0.7% in after-hours trading Tuesday. Non-GAAP earnings per share (EPS) was ($1.52). Please see below for an explanation and reconciliation of non-GAAP EPS and adjusted non-GAAP EPS. Establishing Q2 2015 Outlook and Reaffirming Guidance for 2015 MW Deployed While the first quarter of 2015 was impacted by the typical seasonal slowdown, we expect a resumpti SolarCity reported sales of xxx, compared with $63.5 million a year ago. Analysts polled by FactSet had expected a loss of $1.60 a share on sales of $57.7 million.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below