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Power-Save Energy Company Announces Record Fiscal 2007 Year End Financial Results

Posted on: Wednesday, 26 March 2008, 09:00 CDT

SAN LUIS OBISPO, Calif., March 26 /PRNewswire-FirstCall/ -- Power-Save Energy Company (BULLETIN BOARD: PWSV) , an emerging leading retailer of renewable energy and energy savings products, today announced its fiscal 2007 year end financial results for the period ending December 31, 2007.

Revenue for the year ended December 31, 2007 was $2,309,908 compared to $650,692 for the year ended December 31, 2006. This is an increase of $1,265,216 or 255%. The increase was a result of increased sales of the Company's PS1200 energy-savings product for homeowners and the introduction of two new products, the PS 3200 and PS 3400 for light commercial and industrial use. The company reported net income of $334,738 or $.012 a share compared to a loss in the prior year.

The cost of sales for the year ended December 31, 2007 was $439,875 compared to $279,984 for the year ended December 31, 2006, an increase of $159,891 or 57.1%. The gross margin for the year ended December 31, 2007 was $1,870,033 or 81% compared to a gross margin of $370,708 or 57% for the year ended December 31, 2006. In 2006, the Company purchased approximately $95,000 of inventory in an asset purchase agreement that was sold at a lower gross margin than products currently being sold which reduced the 2006 gross profit margins. The total gross margin increased by $1,499,325 in 2007, an increase of 404%.

Michael Forster, Power-Save Energy Company President and CEO stated, "We're pleased to announce our positive fiscal year end 2007 results. Despite reporting sizeable gains in year over year revenues and profits last year, our plan was to simply lay the groundwork for future growth, something we've now successfully accomplished. With a solid foundation and the recent launch of our new Renewable Energy product line, including the Power-Save Solar and Power-Save Wind Turbine, designed and engineered to specifically meet the needs of consumers looking to maximize their homes energy usage while mitigating the expense of costly rising energy prices, we believe we are poised for a very positive 2008. We look forward to continuing to work diligently towards executing our business plan and building long term sustainable shareholder value."

About Power-Save Energy Co.

Power-Save Energy Company (http://www.power-save.com/) is marketing and manufacturing company focused on becoming the premier retailer of renewable energy and energy savings products in the United States. The company is dedicated to the mass-market sale of energy saving products and now renewable energy products direct to the homeowner and small business. The company not only provides both quality tested and certified products direct to the consumer, but also provides them at prices affordable to everyone. Power-Save Intends to "Make Renewable Do-able!"

Safe Harbor Statement

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

Power-Save Energy Company

CONTACT: Michael Forster of Power-Save Energy Company, 1-866-297-7192,mjforster@power-save.com

Web site: http://www.power-save.com/

Source: PRNewswire-FirstCall

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