Sunworks Announces Preliminary Unaudited Full-Year 2016 Results and Provides 2017 Outlook
Sunworks, Inc. (SUNW)
Last sunworks, inc. earnings: 10/31 07:07 am
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US:NASDAQ Investor Relations:
ir.sunworksusa.com
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Source: Marketwire
ROSEVILLE, CA -- (Marketwired) -- 03/13/17 -- Sunworks, Inc. (NASDAQ: SUNW), a leading provider of solar power solutions, today announced preliminary financial results for the fourth quarter and 12 months ended December 31, 2016. Based on preliminary, unaudited financial information, the Company expects: Full Year 2016 Revenue of approximately $86.5 million, an increase of 61% compared to $53.7 million in 2015 Adjusted EBITDA loss of approximately $1.6 million compared to adjusted EBITDA of $2.6 million in 2015 Order backlog as of December 31, 2016 of $48.5 million, compared to $47.5 million as of December 31, 2015 Fourth Quarter 2016 Revenue of approximately $18.5 million, compared to $17.3 million for the three months ended December 31, 2015 Adjusted EBITDA loss of approximately $2.9 million, compared to positive EBITDA of $1.5 million for the three months ended December 31, 2015
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