Solar3D turns to USD 1.4m Q3 profit

Rooftop solar system. Author: Martin Abegglen. License: Creative Commons, Attribution-ShareAlike 2.0 Generic

After revenues trebled, US firm Solar3D Inc (NASDAQ:SLTD) posted a net profit of USD 1.4 million (EUR 1.3m) in the third quarter of 2015, versus a USD-13.7-million loss a year earlier.

The company installs solar systems with a focus on the agricultural and commercial segments. Its quarterly revenue grew by 207.8% year-on-year to USD 19.7 million. Nine-month revenue also rose to USD 36.4 million so Solar3D said it is confident it will surpass the high end of its guidance for full-year revenue of USD 40 million-45 million.

More details on the company’s performance are available in the table.

Results in USD	Q3 2015	Q3 2014
Net profit (loss)	1.4 million	(13.7 million)
-- per diluted share	0.06	(1.14)
Gross margin	27%	27%
Revenue	19.7 million	6.4 million
Total sales back log	49.2 million	9.1 million

In August Solar3D agreed to buy solar systems provider Elite Solar for USD 7.15 million. Yesterday it said the deal is expected to wrap up by December 1. Its revenue in the reporting period came from two other acquired solar businesses -- SUNworks and MD Energy.

Before expanding to the solar installation field, Solar3D was solely focused on the development of a three-dimensional solar cell technology.

(USD 1 = EUR 0.919)

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