Sunworks, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2019; Provides Earnings Guidance for the Second and Third Quarter 2019
May 14, 2019 at 04:05 pm EDT
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Sunworks, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2019. For the quarter, revenue was $9,268,000 against $13,447,000 a year ago. Net loss was $4,535,000 against loss of $1,728,000 a year ago. Basic loss per share was $0.17 against loss of $0.07 a year ago.
The company provided earnings guidance for the second and third quarter 2019. The company expects to generate revenue in the range of $18 million to $22 million in each of the next two quarters and to generate positive operating income.
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. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2019; Provides Earnings Guidance for the Second and Third Quarter 2019
SUNWORKS, INC. 