Electron Solar Energy Announces Record Profitable Results for the Third Quarter of 2007
Electron Solar Energy (OTC:ESRG), an international distributor of alternative energy systems, announced today its financial results for the quarter ended September 30, 2007. The Company voluntarily files detailed, quarterly reports on http://www.pinksheets.com and expects Fourth quarter statements to be posted shortly.
For the third quarter ended September 30, 2007, Electron Solar announced total revenues of approximately $292,160 compared to total revenues of $152,045 in the second quarter of 2007 and $99,991 in the third quarter of 2006, representing increases of 92% and 192%, respectively.
The Company attributes increased revenues from sales gained from its core battery customers, new sales from solar panel systems, new distributor partners in new territories, and the advancement of shipping and inventory methods. President and CEO of Electron Solar Energy Christopher Quinn, said, “We are very pleased to be turning the corner from breakeven to profitability this year. During the third quarter, we expanded our sourcing to multiple suppliers of solar panel equipment. Added availability of product, along with several key new customers added enough volume for us to nearly triple Q3 sales year over year. Part of our new product offering enables us to package customized solutions for our residential and commercial customers. We also have a strong distribution network in place, along with our expanded facility in Miami, which enables us to achieve quicker turnarounds on orders, usually within 24 hours, from anywhere in the world. With our recently added high-margin, installation services in the fourth quarter, we expect to report a record year of growth in 2007.”
About Electron Solar Energy
Electron Solar Energy, based in Miami, Florida, is engaged in the international distribution of alternative energy systems. The Company’s turnkey solutions provide solar and wind energy generation, as well as energy storage systems sold B2B and B2C worldwide. The Company also sells a proprietary line of sealed batteries, inverters, converters, Solar Panels, Related components, and gas and diesel fuel generators. For more information on the Company, visit www.electronsolarenergy.com.
For investor relations, visit http://www.otcfn.com/esrg.
This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; the uncertainty of the oil & gas market; including the geopolitical environment not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.