XsunX, Inc. (OTCQB: XSNX), a solar energy solutions provider, today announced that revenues continued to improve growing by 60% in its third period while gross margins remained on target in excess of 30%.
Tom Djokovich, CEO of XsunX, commented, “The other great news is that we are continuing to build sales momentum with a rapidly growing project bid channel now in excess of $10 million in commercial solar system proposals. We also added sales people this last quarter to help build the depth and quality of our bid channel. With the sales cycle requiring about 3 to 6 months for commercial systems, we saw the need to load our sales channel now to see increasing sales in future periods and it looks like the investments may begin paying off.”
XsunX works directly with customers to document the financial benefits available from solar PV for their businesses and then provides access to zero down financing options, project design, engineering, and turnkey warranted installation. They have developed a highly skilled team and work exclusively with qualified engineering and specialty contractors that help to ensure that each project incorporates the most current technology and meets, or exceeds, all regulatory compliance requirements.
Djokovich added, “This is an exciting time to be building a strong brand presence in the commercial solar market. We believe that solar adoption in the commercial market is still in its early stages, and we are working very hard to deliver top quality systems and service to ensure that XsunX develops a premium brand awareness. Our focus now is to continue our progress towards profitability.”
XsunX provides solar energy solutions with the greatest bottom-line financial benefits for commercial and industrial users. Our background and experience spans virtually all aspects of solar, including technology assessment, design and development. The company has developed a highly skilled team of qualified engineering and specialty contractors with extensive commercial solar experience necessary to service the diverse conditions that can be encountered in commercial buildings. The company couples this superior design and delivery capability with factory direct pricing and zero down financing options to provide exceptional solar power plant installation opportunities for its clients.
For more information, please visit our website at www.xsunx.com.
Safe Harbor Statement
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Tom Djokovich, President and CEO
SOURCE: XsunX, Inc.