WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) released a letter to its shareholders wherein President Dan Bates highlighted progress the company achieved in 2015. He updated on the operations of factory in North Vernon, Indiana.
As per the released letter, Indiana facility of WINDSTREAM is operating at full capacity as it achieved new record levels for production and shipping. The company produced close to 1 MW of products in March. The volume is expected to grow in the coming period as the company is busy scaling up the production capabilities and efficiencies in the entire process.
Bates of WINDSTREAM stated that the first quarter of 2015 was the largest revenue quarter to date with combined sales of $1.58 million, a 565% growth over the comparable quarter of 2014. The total combined revenue for FY2014 was $1.91 million, a 114% increase compared to the year earlier, which indicates that company is making stable progress towards its expansion plan. There are more than 45 employees working to manufacture products for company’s clients.
The CEO of WINDSTREAM informed that they have shipped their products to 35 countries to date. Product revenue from existing customers is maintained as there are re-orders from respective clients. The management said that not only sales from existing customers are growing but also new sales are surging. The continuous efforts are made to promote and market the products to new territories across the world. The flow of raw material is continuous and matches the stringent quality guidelines. There are no supply chain issues, which previously restricted the production of the SolarMill®.
The future ahead
WINDSTREAM is successfully serving its major markets and main partners in Jamaica, Jamaica Public Service Co. (JPS). JPS is assigned with the task of delivering the SolarMill® to clients in the residential and business segments both on and off grid.
In last trading session, the stock price of WSTI declined 10% to close the trading session at $0.0360.