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Solar3D Reports Second Quarter Revenue of $7.5 Million
Date£º2014/7/26
July 24, 2014 - Solar3D, Inc. today filed its 10Q for the second quarter of 2014. This is the first time it has reported full consolidated financial results since its acquisition of SUNworks. The quarterly report contains SUNworks' second quarter sales of $7.5 million representing an increase of over 600% compared to Q1 2014, resulting in operating profits in excess of $762,000.
"We are thrilled with our second quarter results, which have surpassed our initial expectations," said Jim Nelson, CEO of Solar3D. "SUNworks' revenue and profit margins are outstanding - with sales for the quarter approaching the sales level of all of 2013, and profit already exceeding the previous year. Our future looks brighter than ever."
"We are pleased that the acquisition and financial consolidation since the start of 2014 is finally complete and that we can fully report the exciting growth underway at SUNworks," said Nelson. While organic growth alone is anticipated to make the company substantially larger in 2014, Nelson also reported that Solar3D is actively seeking additional acquisitions to enlarge the SUNworks division, and is in conversations with a number of candidate firms. Additionally, the company's proprietary Solar3D cell is quickly advancing technologically, with announcements expected throughout the year.
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