Thursday, October 30, 2014 2:12:39 PM
Also, recall there were anomalies with both first and second quarter revenue. The first quarter was only two months reported, since SLTD didn't own SUNworks for the month of January. Also, I seem to recall JN stated at the time of the Q1 report that some of the revenue that could have been recognized in the first quarter was instead held off and recognized in Q2. So, SUNworks didn't really increase its revenue by 600% quarter over quarter as claimed in the most recent, Oct. 15 PR.
SLTD has stated a revenue growth of approx. 300% year over year (see Aug. 26 PR). SUNworks' 2013 revenue was $8,552,975. So, that would be ~ $25.6 million for revenue this year at 300%. However, depending on how they intended the statement, 300% increase would actually mean a multiple of 4, netting us roughly $34 million revenue for 2014.
Let's go with the $34 million figure. First and second quarter combined was roughly $8.5 million. If we did, say, $11.5 million for Q3, that gets us to $20 million. Do $3 million increase again in Q4 ($14.5 M), and that would have us at $34.5 million on the year.
Seeing as the only revenue guidance SLTD has given us is the 300% figure, I think these numbers are pretty reasonable. If SLTD does blow these numbers out of the water, all the better. However, I don't think it's good to set expectations too high.
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