MOUNTAIN VIEW, Calif.,
Oct. 19 /PRNewswire-Asia-FirstCall/
-- Solar EnerTech Corp. (OTC Bulletin Board: SOEN) ("Solar
EnerTech" or the "Company"), a leading manufacturer of photovoltaic
solar energy cells with its corporate office in Mountain View, California and with its
manufacturing facility at Jinqiao Modern Technology Park in
Shanghai, today announced volumes
and revenues for the quarter and fiscal year ended September 30, 2010.
For the three months ended September 30,
2010, the Company expects to report volume of solar modules
shipped of 9.5MW and net revenue of $17.5
million compared to volume of solar modules shipped and net
revenue of 5.4MW and $13.2 million,
respectively, for the same period last year. This would translate
to net revenue of $69.3 million for
the full fiscal year 2010 compared to net revenue of $32.8 million in the previous fiscal year.
"During the fourth quarter, demand remained robust, resulting in
the strong preliminary volumes and revenues that we are announcing
today. Given our fourth quarter forecast, quarterly revenue will
have grown 32.5% over the prior year's quarter, while full fiscal
year revenue growth would be in excess of 111% compared to the
previous fiscal year," noted Mr. Leo
Young, Chief Executive Officer of Solar EnerTech. "If we
continue to diligently execute on the strategic and operational
objectives of our business plan, we should be well positioned to
expand our customer base by leveraging our solar energy cell
manufacturing expertise to penetrate new markets in higher growth
regions, thereby expanding our geographic footprint, while also
achieving organic growth by maintaining our commitment of providing
superior customer service which will fortify our presence in
existing markets. Overall, we are pleased with the growth in
volumes and revenues and look forward to reporting our full
financial results."
About Solar EnerTech Corp
Solar EnerTech is a photovoltaic solar energy cell manufacturing
enterprise incorporated in the United
States with its corporate office in Mountain View, California. The Company has
established a sophisticated 67,107-square-foot manufacturing
facility at Jinqiao Modern Technology Park in Shanghai, China. The Company currently has two
25MW solar cell production lines and a 50MW solar module production
facility.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
Statements contained in this press release, which are not
historical facts, are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based largely on current
expectations and are subject to a number of known and unknown
risks, uncertainties and other factors beyond our control that
could cause actual events and results to differ materially from
these statements. These statements are not guarantees of future
performance, and readers are cautioned not to place undue reliance
on these forward-looking statements, which are relevant as of the
date of the given press release and should not be relied upon as of
any subsequent date. Solar EnerTech undertakes no obligation to
update publicly any forward-looking statements.
Contact:
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Solar EnerTech Corp.
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Phone:
+86-21-6886-2220
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http://www.solarE-power.com/
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CCG Investor Relations
Inc.
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Mark Collinson, Partner/Account
Supervisor
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Phone:
+1-310-954-1343
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Email: Mark.Collinson@CCGIR.com
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SOURCE Solar EnerTech Corp.
Copyright . 19 PR Newswire