Solar Integrated Roofing Corp. Announces Record $10+ Million in Sales in June 2021

Rhea-AI Summary

Solar Integrated Roofing Corp. (OTC PINK:SIRC) reported record sales exceeding $10 million for June 2021, largely fueled by growth from recent acquisitions, including Future Home Power, which contributed over $6 million. CEO David Massey emphasized that the acquisitions positively impacted monthly sales, supporting SIRC's aim of achieving $100 million in annual sales. The company's focus will shift to optimizing profitability after completing key acquisitions, positioning itself for growth in the upcoming seasonal months.

Positive

• Record sales exceeding $10 million in June 2021.
• Future Home Power contributed over $6 million in sales, showcasing effective lead generation.
• Company aims for $100 million in annual sales, indicating strong growth potential.
• Rapid acquisitions have enhanced month-to-month sales figures.

Negative

• Not all sales will be recorded as Solar Integrated Roofing revenue due to acquisition timing.

Recent Acquisitions Drive Sustained Growth in Push Towards Near-Term Profitability

EL CAJON, CA / ACCESSWIRE / July 14, 2021 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power and roofing systems installation company, announced today that its preliminary, unaudited sales for the month of June 2021 totaled a company record of over $10.0 million.

The record sales month was driven by strong industry tailwinds supporting organic growth as well as the addition of revenue from recent acquisitions. Future Home Power sold over $6.0 million during June demonstrating the effectiveness of their lead generation capabilities. Due to the acquisition of Future Home Power closing on June 9, 2021 not all sales will be recorded as Solar Integrated Roofing revenue. The Company expects the recent record-breaking expansion and momentum to continue in the months ahead as favorable seasonal trends develop and bring the Company to its short-term target of $100 million in annual sales.

“The rapid pace of immediately accretive acquisitions during the year significantly increased our month-to-month sales figures,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Corp. "This milestone stands as a testament to the value inherent to our historical rollup strategy, as sales in acquired companies often outpaced expectations. In the near-term, with our most pressing acquisitions complete, we will turn our focus to optimizing profitability within the SIRC family of companies. I believe we are well positioned for continued operational execution in the strong seasonal months ahead, creating sustainable value for our shareholders over the long-term."

About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC PINK:SIRC), is an integrated, single-source solar power and roofing systems installation platform company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.

Forward-Looking Statements
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.

Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

SOURCE: Solar Integrated Roof Corp.

View source version on accesswire.com:
https://www.accesswire.com/655435/Solar-Integrated-Roofing-Corp-Announces-Record-10-Million-in-Sales-in-June-2021

FAQ

What were Solar Integrated Roofing's sales figures for June 2021?

Solar Integrated Roofing reported record sales exceeding $10 million for June 2021.

How much revenue did Future Home Power generate in June 2021?

Future Home Power generated over $6 million in revenue during June 2021.

What is the company's target annual sales figure?

Solar Integrated Roofing aims to reach $100 million in annual sales.

How has the acquisition strategy affected SIRC's sales?

The acquisition strategy has significantly increased month-to-month sales figures, with acquired companies often exceeding expectations.

How will Solar Integrated Roofing focus on profitability after acquisitions?

The company plans to shift its focus to optimizing profitability after completing its recent acquisitions.