XsunX Reports Increased Revenues
May 20 2014 - 7:15AM
Marketwired
XsunX Reports Increased Revenues
Company Sees Increased Sale of New Solar Systems and Meets Gross
Margins Target
ALISO VIEJO, CA--(Marketwired - May 20, 2014) - XsunX, Inc.
(OTCQB: XSNX), a solar energy solutions provider, today announced
the accelerated sale of new solar systems, resulting in increased
revenues, while meeting its gross margins target.
Tom Djokovich, CEO of XsunX, commented, "Everything we are doing
appears to be headed in the right direction, which has allowed the
company to begin to record revenue from completed systems with
initial gross margins in excess of 30%. At the same time, we have
nearly halved our operational costs and losses. With the sales
through project delivery cycle requiring about 3 to 6 months for
commercial systems, we are pleased to see that our early efforts
are now resulting in so much positive momentum."
XsunX works directly with new business customers to document the
financial benefits available from solar PV for their businesses,
and then provides project design, engineering, and turnkey
warranted installation. In addition, and dependent on the client's
ability to monetize the substantial tax benefits provided through
solar investments, the company offers zero down financing programs
that allow customers to save through substantial tax benefits or
immediate and meaningful monthly reductions to cash flows delivered
through a low cost lease-to-own option.
Djokovich added, "Our system designs, technology, pricing, and
finance options are exceptional and we have been addressing an
under serviced area of the solar industry -- commercial system
sales -- with growing success. Our goal now is to add to the
millions we have in bids, close more sales, and grow revenues
exponentially. We are hiring sales executives to help accelerate
our project bid volume. With our added financing programs, and the
addition of new sales personnel, we hope to continue our progress
towards profitability."
About XsunX 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. We have a deep passion for solar and have worked to
pioneer new technologies and solar solutions that make solar power
an affordable energy option. 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.
CONTACT: Tom Djokovich President and CEO 949-330-8060
info@xsunx.com
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