MIAMI--(BUSINESS WIRE)--Electron Solar Energy (OTC:ESRG) issued the following letter to shareholders today:
Dear Electron Shareholders,
In a 2008 economy in which almost every business sector faced downturns and cutbacks, the alternative energy source industry improved significantly. Electron Solar Energy benefited substantially, achieving record sales and profits. In a world of diminishing fossil fuels, we are poised to continue that growth.
Electron ended 2008 with over $3 million in revenue, and is now running at an annualized pace of close to $5 million. In 2008 we doubled our core business for solar energy products, and completed two strategic acquisitions, a million-dollar business unit, Southern Automotive Products (www.sapfl.com), a fabricator and distributor of high-quality machine parts and tools, and Express Communications (www.expcomm.com), a multi-national manufacturer of custom cables and telecommunications equipment. These additions are part of our strategy to grow through acquisitions of synergistic companies, as well as increasing market penetration through our existing core businesses.
Marketplace attention is increasingly focused on advances in solar technology. This is a trend upon which Electron is now positioned to capitalize. As a large volume distributor, we have the flexibility to modify and maintain proper inventory levels to satisfy all emerging alternative energy demands.
Electron entered 2009 with significant orders on hand for all of our divisions; our solar energy installation unit in particular. We are investing in additional international sales resources, thereby increasing our volume, while vigorously controlling our overhead to maximize profit for our stockholders.
Our marketing efforts utilizing the Internet have proven very effective, resulting in both domestic and international inquiries and sales. (Please visit www.electronsolarenergy.com for a complete directory of websites.) We have expanded our regional penetration in the solar energy installation market with a dedicated website www.solarinstallationFL.com. National media attention is increasing, and we have retained a public relations firm to maximize media coverage. As an example, our installation of “solar panels as art” functioning installation at the world-renowned Art Basel Miami in December received rave media reviews. These steps are improving our position in the industry, the media, and local markets. In 2009, we will leverage that exposure to generate larger installation contracts.
With the recent change in Florida legislature a new property tax credit for alternative energy conversion, businesses and homeowners will have a greater incentive to act in 2009 than ever before. We anticipate that other States and the Federal Government will pass similar legislation. Electron is positioned to capitalize on these new opportunities.
Our network of international distributors and dealers is growing. We are poised and ready to capitalize on the explosive growth our industry is experiencing in 2009 and beyond. Our investments and acquisitions are strategically targeted toward increasing profits, as well as shareholder value. This will enable us to increase inventory levels sufficiently to meet growing market demand.
Your trust and confidence in management is greatly appreciated. Our entire management team is focused on growth of shareholder value. We thank you, our shareholders, for your past loyalty and support, and we look forward to a rewarding and exciting future for all of us.
Sincerely,
Christopher Quinn
Chief Executive Officer
Friday, January 23, 2009
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