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The lights may be out on the tradable company as we know it by 2030 and assets carefully shifted to a privately held solar installation company by then... I have shut the lights off a few times and this is smelling familiar recently. Hope I am wrong
Hey Moon...
At this pace we will face delisting within a year then along comes the dreaded R/S all for the wrong reasons this time.... JN is solely responsible for the plunge in share price taking place and if he just blows it off with no comments or corporate actions to show his true colors otherwise then I will have lost even more respect for him as a good businessman and one who means what he says about building shareholder value or is it (select shareholders value)? I had such high hopes for his style and what he could do for the common investors who believed in him. He has let me down on many fronts and I am not a fan of his like I was prior to Nasdaq. Wishing I was invested in a mutual fund at this moment as I have learned the hard way on many individual stocks in my time and really thought this one was a diamond in the rough...LOL!
I was here then and I recall this to be pretty accurate as I recall.
In case anybody wondered if investor relations ever replied back to my email from last week asking if in fact Danny was no longer with the company they never did answer but they did promptly remove him from management team on website. Seems a bit shady to me
Yep I did the same thing ruining my position this past 18 months when I let greed and margin into the mix. Just being more cautious of the current situation as it is playing out here. It is obvious the company is doing well and growing nicely but the deck has been stacked against the private investor until I see proven otherwise imo
Awesome! I hope the 50 shares you have changes your life
Alex if 2 cents is the basis for all the shares you own or for that matter anyone else here I congratulate them. I would suspect most investors here averaged up from that point as we were fed a regular feeding of 3 am PR's regarding the progress of the 3D cell.
Thanks Moon! I enjoyed the read and appreciate your passion here
And I suppose the results of today make sense to you as well and were to be expected? Just seems odd so many longs here continue to prop up everything with an explanation these days. Makes me think some here are being paid to promote this. Respectfully IMO
Here is an email sent to IR directly after the CC which has yet to be responded to. No response is another red flag to me today.
Hello Rob,
I thought I just heard Jim Nelson say that Kirk Short is now heading up all Commercial Operations? I notice the website still shows Danny Mitchell heading up SO CAL Commercial Ops.. Can you confirm if Danny Mitchell is still in the management team for me? I know a key metric has always been to retain the owner of acquired companies. If he has in fact made an exit was there a non-compete in place for a period of time?
I did not want to ask this during the CC today but would like to hear some response if it is possible
Thanks and have a great day!
Surprised nobody asked for comments regarding the exit of Danny Mitchell. The website still shows he is Director of Commercial Operations So Cal but sure thought he just indicated Kirk Short is now heading up all Commercial Ops? Something is not adding up here regarding his exit. I would have asked but I am in a very noisy environment today.
This is so sad that once again we are seeing and hearing great things from this company but the PPS trends the wrong direction. Looks to me like those here who have been questioning what is happening here are going to win the day. Doing what is best for the company (employees) may not always be best for the shareholders.
JN really force read that.. He did not seem relaxed to me at all.
Sunworks Reports Over 100% Organic Revenue Growth in First Quarter 2016
ROSEVILLE, Calif. May 11, 2016 - Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions for commercial and residential markets, today announced financial results for the quarter ended March 31, 2016.
Q1 2016 Highlights:
· Total revenue of $19.6 million, up approximately 246% year-over-year and 13% sequentially despite the impact of 20 days of inclement weather which impacted volume
· Organic revenue growth of 100% year-over-year
· Net loss narrowed by over $1 million to ($378,000) compared to $(1.4) million in the first quarter of 2015
· Operating income of $152,000 compared to an operating loss of $(1.0) million in the first quarter of 2015
· Gross Margins of 29.9% compared to 34.3% in the first quarter 2015, reflecting a higher mix of commercial projects vs. residential projects
· Strong backlog of $39.8million as of March 31, 2016
“Strong operational execution and market demand from both residential and commercial customers continue to drive solid financial results,” said Jim Nelson, Chief Executive Officer of Sunworks. “We delivered significant growth despite the loss of nearly 20 installation days due to inclement weather and seasonal trends which typically impact our first quarter. With our backlog now at $39.8 million, and more than twice as large as it was a year ago, we believe we are well positioned to achieve and potentially exceed our 2016 guidance.”
"Our focus on profitable growth and putting our customers first by delivering cost effective solutions in a reliable and dependable manner remains at the center of everything we do,” Mr. Nelson added. “In anticipation of continued and accelerating growth, we began increasing certain operational functions during the first quarter. We also began building inventories for new projects that were awarded late in the first quarter that we expect to deliver on in the second quarter. The investments to expand capacity and scale the business resulted in higher operating expenses for the quarter, while increased inventory reduced our quarterly cash position. We do not expect our long-term operating margin profile to change materially as a result of these investments and saw a meaningful increase in accounts receivables to start the second quarter.”
2016 Guidance
The company reiterates its revenue guidance of exceeding $100 million and continued profitability for the year ended December 31, 2016. The expected 100% year-over-year increase from 2015 revenue is due to continued organic growth of the company’s existing business plus the full year impact from the Elite Solar acquisition and a strong sales backlog.
Mr. Nelson added, “We expect organic growth initiatives to continue to be the primary driver of our growth for 2016. In parallel, we continue to evaluate potential accretive acquisitions, using a disciplined set of acceptance criteria, which could potentially further increase our near- and long-term outlooks.”
First Quarter 2016 Summary
For the first time, three months of Sunworks United (f/k/a Solar United Network), MD Energy and Elite solar were consolidated into the company’s financial statements for the quarter ended March 31, 2016.
Revenue for the three months ended March 31, 2016 increased to $19.6 million compared to $5.7 million in the three months ended March 31, 2015. The increase was due primarily to strong organic growth in Sunworks United, supplemented by the consolidation of a full three months from Elite Solar. Sales to the commercial market, including the agricultural market, and to the residential market represented approximately 67% and 33% of total revenue, respectively.
Gross profit was $5.8 million, or 29.9% of revenue, for the three months ended March 31, 2016 compared to $1.9 million, or 34.3% of revenue, for the three months ended March 31, 2015. The decrease in gross profit margin was primarily due to a larger percentage of commercial/agricultural projects compared to the first quarter of 2015. Net loss of $(378,000), or $(0.02) per basic and diluted shares for the three months ended March 31, 2016 as compared to a net loss of $(1.4) million, or $(0.10) per basic and diluted shares, for the corresponding period in 2015.
Balance Sheet
The company had $6.4 million in cash and cash equivalents as of March 31, 2016 a decrease of $5.6 million from December 31, 2015 which is offset by an increase of $4.9 million in accounts receivable and an increase in inventory of $1.4 million.
As of March 31, 2016, the company’s debt outstanding was essentially flat at $3.4 million and stockholders’ equity increased by $400,000 to $23.8 million as of March 31 2016 from December 31, 2015.
Backlog
Order backlog on March 31, 2016 was $39.8 million, up 271% from the year ago period and down 19.6 % sequentially. Backlog is based on signed orders.
Conference Call Details
Management will host a conference call to discuss these results today, Wednesday, May 11 at 10:00 a.m. ET. To access the call, please dial 1-866-635-0172 (toll free) or 1-785-424-1629 (international). The conference call will also be broadcast live over the Internet, which can be accessed via the Investor Relations section of Sunworks' web site at http://www.sunworksusa.com. All participants should call or access the website approximately 5 minutes before the conference begins.
The webcast will be available for replay for at least 90 days. A telephonic replay of this conference call will also be available by dialing 1-877-481-4010 (toll free) or 1-919-882-2331 (International) using Replay ID 10027, until 11:59 p.m. ET on June 11, 2016
Ha! My field of vision is a bit wider than yours as I removed my blinders after the big board transition disappointment.
Continuation of uptrend? I am struggling with this one... sorry
Without some great news besides a great ER if anything happens tomorrow it will only be a flash in the pan. This pitiful volume the day before an ER speaks volumes to me. I believe this set a record for the lowest prior day pre ER volume in company history.
Carl I agree with you but with 1 exception..They need to stop eating the frosting off the cake and make it public that they intend to stop this practice.
Lol! If I sold out ALL of my shares the PPS would not be where it is today my friend. I let go a chunk yes but still waiting to see if all the positive chatter has any merit. Things are NOT looking good to me right now
I am curious how many shares you or others here loaded at $2.20-$2.40? Anything being said positive right now is certainly nothing more than a pump.
To compare this in anyway to a company such as Apple is a far stretch
Lucky you! I took a $77k bath ass whoopin over there.
My negativity these days is more in line with what pps and volume is doing than any cheerleading positive chatter "noise" taking place. BTW a healthy board should have both negative and positive chat in case you were thinking these boards are only for cheerleading purposes.
I am no longer investing in how well companies do! I am investing in how well their public stock performs based upon how well the company does!
Exactly to the moon! Lmao!!
What has happened since uplisting to the Nasdaq is all That matters these days IMO
The evidence is you own stock in a company that has record sales, profits and growth but the stock price itself has trended the opposite direction. If you all like this pattern for your investments then this is where we are different.
Honestly I think his DD is showing part of the reason we are where we are today. Why others fault him is beyond me.
Yep instead of flipping it would be giving it. Until there is not a sucking sound in the background PPS will not sustain any rise. Pattern needs to change and must happen from within.
I also was shocked at that statement and thought it was not truthful as well.
This stock reminds me of my job lately..It's just not fun anymore
Yes I have experience with that too.
I have had a past history of finding what I thought were diamonds in the rough and following them to their last breath. I am trying to pay closer attention this time mainly because I am older and wiser. Make no mistake I am not a basher. I want nothing more than for this stock to do well you know kinda like the company reports it is doing... JN must get things in order and get both the company and the stock moving in the same direction soon or it will be lights out for the stock all of course IMO.
Sunworks Expands Presence in Fast-Growing Commercial Market with $10.1 Million in New Orders
New Opportunities in Emerging Small and Medium-sized Businesses (SMB) Driving Incremental Demand
ROSEVILLE, CA (May 2, 2016) -- Sunworks, Inc. (NASDAQ: SUNW), a leading provider of solar power solutions, announced that its Agricultural and Commercial Divisions have been awarded approximately $10.1 million in commercial based solar solution orders ranging from 19kW to 768kW since the end of January 2016. These awards support the company's current growth outlook and are included within their previously issued guidance.
These contracts from new customers, represent additional penetration by Sunworks into the SMB market which historically had not been addressable given the economics of solar integration and budget limitations of smaller businesses. However, with the introduction of new financial solutions by an increasing number of commercial and farm focused lenders, the SMB market is increasingly turning to solar as a way to reduce energy costs and lower carbon profiles.
“We are seeing a new market segment open up and significant opportunities for small- to mid-sized businesses that require less than 1 Megawatt of power offset to take advantage of solar,” said Abe Emard, COO at Sunworks. “The costs for solar integration have been significantly reduced and with innovative new financing solutions available through Sunworks and our financial partners, solar is more economically viable. We are designing innovative custom solar solutions for motels, golf courses, animal shelters, storage units, and farms throughout California and Nevada.”
Jim Nelson, Sunworks CEO added, “Empowering small business owners with highly efficient and affordable solar solutions is good for the environment and the economy. Sunworks is well positioned to capitalize on growth opportunities in this emerging market segment and is focused on driving organic growth in both its residential and commercial divisions.”
Yes I was and those days were VERY different than today! On the OTC this sucker was on fire and I had multiple days where I gained more than $100,000 in value. The landscape today is no comparison my friend.
I would be shocked if these owners of acquired companies did not have to sign a 2 year non compete agreement if they chose to exit such as what Danny Mitchell just did.
Ok my bad. I will go back to sleep.
This is interesting
https://www.corporationwiki.com/p/2j38b4/mike-ditsler
I thought the market opened at 9:30 ET? Looks like we have another error?
ROSEVILLE, Calif. April 27, 2016 - Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions announced today that it will report financial results for the quarter ended March 31, 2016 before the market opens on Wednesday, May 11, 2016.
Management will host a conference call to discuss these results on Wednesday, May 11 at 10:00 a.m. ET