Solar Energy Initiatives, Inc., a company focused on helping redeploy a portion of the U.S. work force and reducing the worldâ€™s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, recently increased its revenue guidance for fiscal 2009. The guidance was increased 100% to $12 million from the previously announced $6 million. The increase is a result of the success of Solar Energy Initiativesâ€™ ability to sell solar equipment to municipalities throughout the nation.
By developing its niche dominance as a large volume distributor of solar products to its dealers, the company has positioned itself for continued quarterly sequential growth. Solar Energy Initiatives is currently attracting various hotels, hospitals, schools, prisons and other commercial institutions who want to lower their energy costs by implementing an environmental friendly solution.
â€œWe are extremely pleased to be increasing our revenue guidance and that our business is surpassing our initial revenue expectations,â€ stated, Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. â€œSince we launched our RENEW THE NATION campaign in February we have been improving our Company’s overall performance.â€
He added, â€œWe have successfully increased our market share and revenue base in each month. In the remainder of fiscal year 2009, we will continue to drive growth through sales from our increasing dealer network. Our results in the fourth quarter will cap off an extremely strong fiscal year for the Company. We have a healthy core business and are strategically exploring growth opportunities, which will build on our success and contribute to continued double-digit revenue growth in fiscal year 2009.â€