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26 May 2014

XsunX grows revenue; sees increased sales of new solar systems and meets gross margin target

XsunX Inc of Aliso Viejo, CA, USA, which is developing hybrid copper indium gallium (di)selenide thin-film (CIGS) photovoltaic (TFPV) cell technologies and ‘CIGSolar’ manufacturing processes, has announced the accelerated sale of new solar systems, resulting in increased revenues, while meeting its gross margins target.

“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%,” says CEO Tom Djokovich. “At the same time, we have nearly halved our operational costs and losses,” he adds. “With the sales through project delivery cycle requiring about 3-6 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 tax benefits provided through solar investments, the firm offers zero down financing programs that allow customers to save through tax benefits or immediate monthly reductions to cash flows delivered through a low-cost lease-to-own option.

“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,” claims Djokovich. “Our goal now is to add to the millions we have in bids, close more sales, and grow revenues exponentially,” he adds. “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.”

See related items:

XsunX ends 2013 with cash deposit and system lender purchase order

XsunX aims to grow monthly systems sales and installations to 1MW in Southern California in 2014

Tags: XsunX CIGS

Visit: www.xsunx.com

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