Solar3D Provides Highlights From Q3 Financial Results Call

Solar3D, Inc., a provider of solar power solutions and the developer of a proprietary high efficiency solar cell, today provided financial highlights from the company’s third quarter 2015 conference call.

Financial Highlights:

·  The Company achieved profitability in Q3 with record sales and net income.

·   Revenues tripled year-over-year, and were up 79% sequentially over second quarter 2015 revenue.

·   The Company made significant improvements in operational efficiencies, reducing operating costs as a percentage of sales.

·   Solar3D announced Q3 gross profit of $5.3 million and Q3 net income of $1.4 million or $0.08 per basic share and $0.06 per diluted share.

·   The Company reports a strong backlog of $29.5 million equal to an increase of nearly $7 million from last quarter.

Revenue Growth Trajectory Continues

•  Q2 2015 to Q3 2015 revenue increased 79% from $11 million to $19.7 million following 83% revenue growth from Q1 2015 to Q2 2015 to $11 million.

•  For the first nine months of 2015, SLTD achieved $35 million in revenues compared to $20 million for the full year 2014, representing a 75% increase with a full quarter of revenue and earnings yet to be recorded.

•  The Company reiterates that it is confident it will exceed published revenue guidance of $40 – $45 million for 2015 and may increase this guidance as the quarter progresses.

•  Expect continued organic growth into 2016 plus incremental growth when Elite Solar acquisition is finalized.

Balance Sheet

•   Company maintains strong cash balance of $9.3 million to pursue additional growth initiatives, such as the planned acquisition of Elite Solar, another California solar systems provider and other acquisition opportunities.

•    Business trend points towards continued growth throughout the current fiscal year and into 2016.