Solid Growth Represented by a 94% Quarter-Over-Quarter Increase in Revenue; Sales Backlog Jumps by 930% Year-Over-Year
SANTA BARBARA, CA--(Marketwired - August 07, 2015) - Solar3D, Inc. (SLTD), a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell, today announced its total sales back log for the quarter ended June 30, 2015. The Company reported second quarter financial results yesterday, citing record revenue of $11.0 million for Q2 2015, an increase of 47% over the $7.5 million reported in Q2 2014 and a 94% sequential rise over the $5.7 million achieved in Q1 2015. The increase was due to acquisitions and organic growth within the newly acquired subsidiaries.
In addition, the Company reported a sales backlog of $22.7 million for the second quarter, a 930% increase over the $2.4 million recorded for the same period last year. The Company expects most of this sales backlog to be completed this year.
Solar3D reiterated guidance that 2015 full year revenues will be in the range of $40 million to $45 million.
About Solar3D, Inc.
Solar3D, a leading provider of solar power solutions, is focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Through its wholly owned subsidiaries, Solar3D is one of the fastest growing solar systems providers in California, delivering 2.5 kilowatt to multi-megawatt commercial systems. Solar3D's technology division is developing a patent-pending 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. The Solar3D Cell collects sunlight from a wide angle and lets light bounce around in 3-dimensional microstructures on the solar cell surface. The Company's mission is to further the widespread adoption of solar power by deploying affordable, state-of-the-art systems and developing breakthrough new solar technologies.
To learn more about Solar3D, visit our website at http://www.Solar3D.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer