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Home > News > Corporate News

Acro Energy reports 297% increase in year over year quarterly revenues

Acro Energy Technologies Corp. (TSX Venture: ART), a leading U.S. solar integrator, announced today that it completed the second quarter of 2010 with record gross revenues of US$5.4 million for the three-month period ending June 30, 2010.

 

The company’s second quarter 2010 gross revenues were a 297 percent increase compared to the gross revenues of the company for the three-month period ending June 30, 2009.  During the three-month period ending June 30, 2010, Acro Energy’s southern California subsidiary, Energy Efficiency Solar, Inc. (EES), achieved gross revenues of US$3.0 million, which is greater than the revenues achieved by EES during the entire 2009 calendar year.

 “We delivered a 46 percent increase in revenues from the company’s first quarter results, when we were able to post positive EBITDA on US$3.7 million in gross revenues and we are maintaining an impressive backlog,” said Harry Fleming, chief executive officer of Acro Energy.  “We believe that Acro Energy is on track to achieve its forecasted revenue goal of US$24 million and net income of US$1.7 million for 2010, which excludes additional revenue and net income from the company’s new operations in Arizona,” continued Fleming.

Acro Energy is entering the historically busy sales season in the third quarter with a backlog of approximately US$5 million in committed, financed contracts. 

“Our aggressive sales and marketing efforts, our investment in scalable shared services, and our attention to cost management is paying off with dramatically increased revenue, industry-leading gross margins, and an attractive bottom line to date, this year,” said Nat Kreamer, president of Acro Energy. 

The second quarter of 2010 is the second full quarter of operations for Acro Energy that includes results for all three solar installation companies acquired and integrated in 2009.

 

 

For more information, please send your e-mails to pved@infothe.com.

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