WorldWater & Power of NJ Announces Positive Outlook for 2007
Pennington, N.J., February 20, 2007 (BUSIMESS WIRE)
Source: Worldwater & Power Corp. press release
http://www.worldwater.com/pages/worldwaternews.html#outlook2007
WorldWater & Power Corp. (OTC BB:WWAT.OB-News), developer and marketer of proprietary high-power solar systems, today provided guidance for 2007. The company, which estimates 2006 revenue of $17 million, expects to see sales nearly double this year – to $30-$35 million, representing 5 megaWatts of electricity. The company has a steady backlog of solar projects and is bidding on an active pipeline of opportunities. Seasonality will be similar to 2006, with higher revenue expected to be realized in the latter half of the year. However, each quarter is expected to show strong comparisons over 2006. The seasonality reflects both normal demand trends and a shift in the company’s focus to larger, multi-megaWatt projects. In addition, WorldWater anticipates showing a profit for the full year – a major accomplishment – as it leverages increasing opportunities and takes a growing share of the solar market.
The company continues negotiations with ENTECH, Inc. and will keep investors and customers informed as developments warrant. “I am very pleased with the progress made in 2006 and look forward to continued strong growth this coming year,” commented Quentin T. Kelly, Chairman and CEO of WorldWater. “Profitability is clearly within our reach, and we believe that our focus on larger systems will pave the way for even greater performance in 2008.” The company expects to report fourth quarter and full year 2006 results on or about March 30, 2007.