XsunX, Inc. (OTCMKTS:XSNX) Reports Strong Earnings and Multi-Million Dollar Sales Pipeline
New York, NY -- (SBWIRE) -- 08/27/2014 -- Investor News Source Provides Industry Update and Company Opinion Report on XsunX, Inc. Subscribe for Free and receive exclusive updates and market coverage on other emerging growth companies in the OTC.
XsunX, Inc. (OTCMKTS:XSNX) a commercial solar panel installation company recently came out with strong news reporting great earnings for the quarter. These results included a 60% increase in revenues and a 30% jump in gross margins quarter over quarter. Additionally, the company highlighted its sales pipeline that holds upward of $10,000,000 in open bids which XsunX anticipates closing on at least some within the next 3-6 months. For many of us watching solar right now, this is great news for a small cap like this and even better yet, this announcement has been very well received by the investment community.
Since releasing the press, XsunX has climbed as much 77% during the past week and a half. More importantly XSNX has seen an increase in overall daily liquidity over the last week which we think could suggest that there's a lot more traders and investors out there who think that this is just the beginning for the company to truly take off.
Though the actual revenue numbers are not comparable to company's like SunPower (SPWR) or Solar City (SCTY) quite yet, the actual increase in earnings and margin has been a great indicator as to how much this company has progressed during the first 2 quarters. If you had looked at XsunX a year ago today, they would still be in the development stage with no revs and now since changing the business model back in October, the company has now begun to realize the fruits of its labor.
This increased interested is a pivotal step in the company’s growth and after seeing that latest U.S. federal study, it’s become more evident that the overall potential for XsunX could be massive. The study found that of the 83 GW of renewable capacity additions, 39 GW are solar photovoltaic (PV) systems (60% of which are rooftop installations).
“To put the U.S. federal government’s anticipated solar PV growth in perspective, the installation of well over 5 million new solar modules per year would be required for the next 26 years,” stated XsunX CEO, Tom Djokovich.
Over the past few weeks, XSNX has been fairly dormant by means of announcements but the recent news sheds a very bright light on what could be coming for this solar company. The operational strategy has been to specialize in the design, installation, and service of commercial roof-top solar systems ranging from 20kW to 1MW. This specific niche has been underserved compared to other companies that would rather focus on much larger projects.
Based on this fact, XsunX management expressed that this represents the largest growth opportunity in the solar systems market, to date. Additionally, XsunX CEO Tom Djokovich was featured in a recent episode of MoneyTV. During the interview, he went over the excitement around what the company has already achieved. He also noted that the goal is to have 1mW installed per month and with the addition of new sales team members, he thinks this can be accomplished.
The solar industry is set to grow exponentially over the next 15-20 years according to industry analysts and XSNX has identified an underserved sector that it has already begun to quickly establish itself in. After seeing the increase in volume, more attention on the company, and the recent news that XsunX has put out, this solar company will be one that we will continue to monitor closely for future announcements and company progress within the solar industry.
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About XsunX, Inc.
XsunX provides solar energy solutions with the greatest bottom-line financial benefits for commercial and industrial users. Our background and experience spans virtually all aspects of solar, including technology assessment, design and development. The company has developed a highly skilled team of qualified engineering and specialty contractors with extensive commercial solar experience necessary to service the diverse conditions that can be encountered in commercial buildings. The company couples this superior design and delivery capability with factory direct pricing and zero down financing options to provide exceptional solar power plant installation opportunities for its clients.
For more information, please visit our website at http://www.xsunx.com/.
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Matters discussed in this update contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, 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, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These 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, product, and distributor performance, 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.