Solar Integrated Roofing Corp. Grows July 2021 Sales 600% to Record $10.5 Million

Rhea-AI Summary

Solar Integrated Roofing Corp. reported preliminary, unaudited sales of $10.5 million in July 2021, marking a 600% increase from the same month in 2020 and surpassing its previous record set in June 2021. CEO David Massey expressed optimism for continued growth, targeting a $150 million annual sales run rate. The company cites successful marketing strategies and integration of acquisitions like USA Solar Network and Future Home Power as key drivers. Additionally, a share buyback program aims to enhance long-term shareholder value.

Positive

• Record preliminary sales of $10.5 million in July 2021, a 600% increase year-over-year.
• Targeting a $150 million annual sales run rate, indicating positive growth potential.
• Successful integration of acquisitions like USA Solar Network, contributing to performance.

Negative

• None.

Company Continues to Achieve Growth; Beats Prior Monthly Sales Record Set in June 2021

EL CAJON, CA / ACCESSWIRE / August 3, 2021 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power and roofing systems installation company, today announced that it achieved a record of at least $10.5 million in preliminary, unaudited sales in July 2021 - the highest monthly sales ever recorded by the Company.

The July 2021 sales figure eclipses June 2021's previous all-time monthly record, representing growth of at least 600% as compared to the same year-ago period.

"The incredible sales growth we saw in July is just the tip of the iceberg, as our marketing campaigns and recently acquired companies are just starting to kick in - I believe we can continue this rapid cadence of sequential growth in the historically busy fall season towards a $150 million annual sales run rate," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corp. "As we look inwards to prioritize organic growth and key marketing initiatives get underway, I believe we will be well positioned to achieve our goal of realizing synergies with scale and reaching a sustainable level of profitability.

"Our acquisition plan is working, with USA Solar Network and Future Home Power performing either in-line with or exceeding all expectations as two examples. As we further integrate these acquisitions and build out both a sales and contractor network, we will be best positioned to capture the full lifecycle value of each customer - a critical element in our efforts to reach near-term profitability.

"Taking our sustained sales momentum and recently announced share buyback program into account, I believe we are well positioned to create sustainable value for our shareholders over the long-term," concluded Massey.

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: SIRC

View source version on accesswire.com:
https://www.accesswire.com/658081/Solar-Integrated-Roofing-Corp-Grows-July-2021-Sales-600-to-Record-105-Million

FAQ

What were Solar Integrated Roofing Corp.'s sales figures for July 2021?

Solar Integrated Roofing Corp. achieved preliminary sales of $10.5 million in July 2021.

How much did sales increase compared to July 2020?

Sales in July 2021 increased by 600% compared to the same month in the previous year.

What is the company's sales target for the upcoming year?

The company is targeting a $150 million annual sales run rate.

What acquisitions has Solar Integrated Roofing Corp. integrated successfully?

The company successfully integrated USA Solar Network and Future Home Power.

Does Solar Integrated Roofing Corp. have a share buyback program?

Yes, the company has announced a share buyback program aimed at enhancing shareholder value.