2012 revenues expected to be double 2011 levels
Roseville, CA, February 22, 2012— SPI Solar (“SPI”) (OTCBB: SOPW) a leading vertically integrated photovoltaic (“PV”) solar developer, today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2011.
For the year ended December 31, 2011 the Company currently anticipates annual revenues of approximately $100 million, exceeding the Company’s November 2011 business outlook. On November 10, 2011 when the Company announced its financial results for the third quarter of fiscal 2011 it had revised its prior business outlook for 2011 net sales from $70 million to approximately $95 million.
Furthermore, based on the Company’s robust pipeline of projects, SPI currently expects net sales for 2012 to double 2011 levels, as the company leverages its identified domestic and international growth opportunities.
SPI plans to report final results for the fourth quarter and full-year 2011 in March 2012.
Separately, the Company noted that Jim Pekarsky, CFO, will present at the Jefferies 2012 Global Clean Technology Conference in New York on February 23, 2012. The conference will feature keynote speakers, panel discussions and presentations from over 100 leading public and private companies across the clean technology spectrum.