ICP Solar Investors Power Up for Earnings CC
ICP Solar Technologies, Inc. [[ICPR.OB]] announced that it has made tremendous strides in improving its operations over the past two quarters and setup its first quarterly conference calls on Thursday. The company plans to review their financial results and growth strategy going forward on the call, and predicted that 2010 would be a turning point in its expansion plans and path to profitability.
During the fourth quarter, ICP Technologies reported revenues that jumped 45 percent and a positive gross profit of approximately $76,000 in compared to a loss in the prior year. Meanwhile, the bottom line also improved with selling, general and administrative expenses moving down about 53 percent compared to the fourth quarter a year earlier.
“We are very satisfied with the company’s progress made in the fourth quarter, particularly the effects our cost reduction program has had- ahead of schedule,” said Sass Peress, CEO. “ICP Solar has taking tremendous steps towards reducing its cash burn rate and achieving profitability, and we remain well positioned for solid top line growth in calendar year 2009.
“Our order book clearly indicates strong demand for our Sunsei® brand of solar chargers, and we are encouraged by the rollout of our Sunsei® GreenMeter systems across North America as well as in positive tests overseas. Our innovative solar products and solutions continue to offer practical advantages to the everyday consumer versus less-versatile, lower-performing alternatives.”
ICP Solar noted in a past press release that it expects to report its year-end results by May 1, 2009. The conference call, scheduled for 10am EDT on April 29, 2009, will preclude these results and should give investors a better idea of what to expect in calendar year 2009. For now, prudent investors may want to sit on the sidelines until the picture clears up, but speculators are starting to take action now.
CONTACT: Daniel Minton, Managing Director, 406-862-5400, daniel@accelerize.com