Vivint Solar Shares Dip After Q1 Results

Shares of Vivint Solar Inc VSLR tumbled more than 8 percent in after-hours trading after the company reported financial results for the first quarter ended March 31, 2015. Net income available to common stockholders climbed to $12.1 million, or $0.11 per share, up from $7.0 million, or $0.09 per share, in the year-ago period. Its non-GAAP loss before non-controlling interests and redeemable non-controlling interests came in at $0.57 per share for the latest quarter. Its operating leases and incentives revenue climbed 200 percent year-over-year to $8.6 million from $2.9 million, while total revenue rose 172 percent to $9.5 million from $3.5 million. Analysts were expecting a loss of $0.38 per share on revenue of $8.06 million. Total operating expenses, including cost of revenue, increased to $58.2 million in the quarter, from $33.4 million in the year-ago quarter. Loss from Operations widened to $48.7 million, from $29.9 million in the year-ago period. Installations climbed 100 percent year-over-year to 6,426 for the quarter. As of March 31, 2015, the company had $194.2 million in cash and cash equivalents. For the second quarter, the company expects total revenue of $14 to $15 million. Vivint Solar shares fell 8.48 percent to $13.70 in the after-hours trading session.