Real Goods Solar, Inc. Announces Financial Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second Quarter of 2018 and Full Year of 2019
The company expects greater revenue in second quarter of 2018. Further, The company expects installation revenue to significantly increase over the year ago second quarter and that the company's cash burn from operations will be less than the year-ago second quarter. The company's expectation for the increased revenue is due to the fact that the fair weather on the East Coast has ended and the company started the second quarter with about $14 million backlog, a backlog nearly doubled over the same period last year. The company's expected improvement in quarterly results year-over-year is by the company's backlog. The company expects greater revenue, which coupled with recent realignment will result in less cash burn.
The company expects quarterly operating income to turn positive in 2019.