Solar3D Increases Guidance by 20% for the Fiscal Year Ending December 31, 2015
Santa Barbara, CA – November 12, 2015 – Solar3D, Inc. (Nasdaq: SLTD), a leading provider of solar power solutions, announced today that the Company is increasing its guidance to $48 - $52 million from its previously issued guidance of $40 - $45 million. The guidance does not include revenue from acquisitions yet to be completed this year.
The increase in market guidance is based on the Company’s recently released sales figures, as well as its extensive sales backlog. Last week, the Company announced revenue numbers of $19.7 million for Q3 2015, more than triple the $6.4 million reported for Q3 2014 due to strong SUNworks organic growth and the addition of MD Energy. With a sales backlog of nearly $30 million, the Company is confident in its continued sales success, allowing Company leadership to focus on identifying profitable solar companies to add to its portfolio of operation divisions.
"We are pleased to issue this guidance that we believe it is representative of the tremendous growth experienced by the Company and its operating divisions," said Jim Nelson, CEO of Solar3D. “Our existing subsidiaries continue to meet and exceed expectations, resulting in our success in dominating key solar markets in California and Nevada. With the completed acquisition of Elite Solar expected by December 1, we are well positioned for continued expansion fueled by our consolidation strategy of acquiring profitable solar companies that possess strong leadership and sales execution. This plan for both long and short term growth is what we expect to drive our revenue, and ultimately enhance long-term shareholder value.”
