EL CAJON, Calif. - November 18, 2020 (Investorideas.com Newswire) Breaking renewable energy/solar stock news from Investorideas.com Newswire and RenewableEnergyStocks.com - Solar Integrated Roofing Corp. (OTC: SIRC),. an integrated, single-source solar power and roofing systems installation company, announced today that it has realized record revenue quarter-to-date, seeing revenues of greater than $3.3 million for the months of September and October 2020.
"The third quarter of 2020 has been highlighted by continued growth of our highly complementary solar and roofing businesses," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. "With supportive industry trends driving increased solar adoption and our significant cross selling opportunities across solar, battery backup installation, roofing and related HVAC/electrical contracting work, we have driven what I expect to be a record third quarter, with year-over-year revenue growth in excess of 50% to $3.3 million at an expected 40% gross margin for the months of September and October 2020.
"As we continue to achieve scale through acquisition, such as our recently announced HVAC acquisition or potential future Enerev acquisition after the completion of our 30-day joint venture, I would expect continued record-breaking results for us as we fully realize the immense cross-selling benefits that face us today," concluded Massey.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corporation (OTC: SIRC), is an integrated, single-source solar power and roofing systems installation company specializing in commercial and residential properties in the Southern California market. For more information, please visit the Company's website at www.solarintegratedroofingcorp.com.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
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