Solar3D, Inc. Announces Earnings Results for the Second Quarter Ended June 30, 2015; Reiterates Revenue Guidance for the Year 2015
August 07, 2015 at 02:20 pm EDT
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Solar3D, Inc. announced earnings results for the second quarter ended June 30, 2015. For the quarter, the company reported revenue of $11.0 million an increase of 47% over the $7.5 million reported in the second quarter of 2014 and a 94% sequential rise over the $5.7 million achieved in first quarter of 2015. The increase was due to acquisitions and organic growth within the newly acquired subsidiaries. The company reported net operating income of $134,000 as compared to $762,000 for the same period of 2014. The company reported a net loss of $122,000, or $0.01 per diluted share compared to a net income of $234,000, or $0.02 per diluted share for the same period a year ago. The company's net loss was the result of costs to build of the company's infrastructure to support anticipated strong organic growth, and additional acquisitions, as well as costs associated with acquisitions and the company's capital offering it believes that the investments made in the company's infrastructure will lead to greater strength and profitability going forward.
The company reiterated guidance that 2015 full year revenues will be in the range of $40 million to $45 million.
Sunworks, Inc. provides photovoltaic (PV) and battery-based power and storage systems for residential and commercial markets. The Company's commercial projects include commercial, agricultural, industrial, and public works projects. It operates through three segments: Residential Solar, Commercial Solar Energy, and Corporate. Residential Solar segment designs, arrange finances, integrates, installs, and manages systems, primarily for residential homeowners. The Commercial Solar Energy segment designs, arrange finances, integrates, installs, and manages systems ranging in size from 50kW (kilowatt) to multi-MW (megawatt) systems primarily for larger commercial and public works projects. Its commercial installations include installations at office buildings, manufacturing plants, warehouses, service stations, churches, and agricultural facilities such as farms, wineries, and dairies. Its public works installations include school districts, federal facilities and local municipalities.
SUNWORKS, INC. 