SANTA BARBARA, CA--(Marketwired - July 22, 2015) - Solar3D, Inc. (SLTD), a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell, today announced preliminary results for the second quarter ended June 30, 2015. Revenue for the 2015 second quarter is expected to exceed $11.0 million. This represents an increase approximately 95% greater than the previous quarter, making it the highest revenue quarter in the Company's history. The Q2 financial results are subject to completion of Solar3D's financial and accounting closing and review procedures. The Company reiterates its guidance of $40-45MM in revenue for the full year 2015.
"Solar3D's model is to achieve both organic revenue growth from its existing subsidiaries and growth through the acquisition of established and profitable solar system providers," said Jim Nelson, CEO of Solar3D. "The results we have been generating from our core business give us confidence that we are successfully executing on our corporate strategy. We continue to pursue the completion of additional acquisitions aggressively and to grow our base business organically, all of which we believe will positively impact shareholder value."
In keeping with the Company's focus on growth, Solar3D has increased general and administrative expenses in preparation for additional organic growth and new acquisitions. Adjusted EBITDA (net income less interest, amortized acquisition debt, depreciation, and public offering-related expenses) is expected to exceed $400,000. Management anticipates a net loss of less than $250,000.
Solar3D plans to release finalized 2015 second quarter results and host a conference call on Thursday, August 6, 2015, at 4:30PM Eastern Time. Solar3D Chief Executive Officer James Nelson and Chief Financial Officer Tracy Welch will discuss operational and financial highlights for the second quarter 2015, as well as forward looking strategy for the rest of the year.
To participate in the call, please dial in to the appropriate number(s) below:
Conference Telephone Numbers:
Date: August 6, 2015
Time: 4:30PM Eastern Time (ET)
Dial-in number for US and Canada callers: 877-407-0783
Dial-in number for International callers: 412-902-0037
A replay will be available for 14 days starting on August 6, 2015 at approximately 8:00 P.M. (ET). To access the replay, please dial 1-877-660-6853 in the U.S. and 1-201-612-7415 for international callers. The conference ID# is 13610162.
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.