QUARTERLY ACTIVITIES UPDATE Increased sales for the final quarter from the continued uptake of solar PV products were largely driven by the Solar Homes and Communities programme and falling solar system pricing. . Sales revenue from operations increased by a healthy 46% to $8.61m as compared to the corresponding period for 2008 fiscal year. Notwithstanding the finalisation of the Solar Homes and Communities Plan’s rebate, there is a significant back log of system installs that we believe will continue through to at least the end of this calendar year. This has been caused largely due to the unprecedented demand in the final weeks of the programme. Although legislation has not yet passed for the replacement Solar Credits programme we expect this to occur during the first quarter of the 2009 financial year and for demand to increase during quarter two. Based upon the strong growth experienced in fiscal year 2008/09 and the expected demand in the first half of this fiscal year, we have invested in growing our stock level to $6.8m from $5.26m at the end of the 3rd quarter. From a working capital perspective we are pleased to report our third consecutive quarter where we have generated a net operating cash flow of at least $1m. Cash at bank as at 30 June 2009 was $4.54m. ATRAA 2009 CONFERENCE With its strong profitable growth in the solar PV market, Solco Choice Electric will be expanding its presence at the national PV conference and exhibition, ATRAA 2009 in Canberra. At this exhibition we will be releasing an expanded range of products to better service this rapidly expanding market, solidifying our position as a key renewable components and systems supplier.
very good outlook
GOE Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
