RE:Many catalysts..."Compared to Q3 2015, sales revenues have grown 300% and 770% compared to the year-to-date revenue of 2015. As well, order backlog stands at approximately $2,900,000. Sales revenue for the three months ended September 30, 2016 increased to $1,785,334, compared to $1,570,255 in Q2 2016 and $1,244,538 in Q1 2016. The increasing sales numbers are a direct result of new systems and marketing programs initiated throughout the year. While sales have been increasing, costs have been managed appropriately. Lower operating costs have been driven by decreased marketing and advertising costs of $176,428 in the current quarter, compared to $476,852 in Q3 2015.
The Company reduced its net loss by 61% to $852,462 during Q3 2016 (compared to a net loss of $1,386,930 in Q3 2015) and increased its order backlog significantly due to higher closing ratios and an optimised sales and customer origination process. The order backlog is approximately $2,900,000 with revenue recognition being pushed to Q4 2016 and Q1 2017. The Company has streamlined the installation process and accelerated throughput speeds to ensure backlog is swiftly turned into sales revenue going forward.
Gross profit increased by 296% to $581,077, representing 33% gross margin for the three months ending September 30, 2016, compared to $196,102, or 33% gross margin in the quarter ended September 30, 2015.
The Company is forecasting successively greater margins through the close of 2016, and profitability moving into 2017.
Jason Bak, Chairman and CEO
1969Enigma wrote: SAN has completed non-brokered pp and raised 1.3 million.
Signed the definitive agreement for the US Assets and has hired the sales team, responsible for more than 7 MW of residential solar systems sales and revenue of more than US $34,305,000 in 2016
Endorsed by William Shatner who is having a system installed at his private residence.
Annual financials to be released Monday
Q1 financials due the end of May which based on the following PR, will likely show profitability for the company through Q 1 of 2017:
Vancouver, Canada, February 1, 2017 Solar Alliance Energy, Inc. "is pleased to announce it will record a profit of approximately $54,226 for the month of December."
Vancouver, Canada, February 14, 2017 Solar Alliance Energy, Inc. (Solar Alliance) or (the Company) "expects to record a profit of approximately $26,211 for the month of January 2017."
Vancouver, Canada, April 7th Solar Alliance Energy, Inc. "The Company expects to record a profit of approximately $18,258 for the month of March 2017."
GLTA & DYODD