WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) issued a letter to shareholders and provided necessary updates on the progress achieved in 2015. The company stated that its factory based in North Vernon, Indiana is operating at full capacity. It achieved a new record of production and shipments as almost one MW of products were produced in March. The high volume is expected to grow as the company increases its capabilities and work to enhance production efficiencies.
The first three months of 2015 proved to be the best sales period for the company with combined revenue of almost $1 million, or 565% growth over 1Q2014. The total combined revenue for FY2014 was almost $1 million, a 114% jump over the prior year. The numbers indicate that the operations are going on as planned and company is moving forward in the right direction.
Windstream stated that it has more than 45 employees manufacturing products for customers and they have shipped products to 35 nations to date. The sales to existing clients are strong as the company recorded re-orders based on the growth achieved in the respective markets. Apart from existing sales, new sales are surging. The growth is primarily due to the marketing and promotion efforts to spread the product in new regions. The flow of raw material is consistent and fulfills strict quality requirements and other supply chain concerns.
WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) stated that India remains in focus as it is a market of over one billion people that are faced with energy challenges. More than 400 million residents in India lack electricity. The company has made a subsidiary in India, WS India for the manufacturing of products in Hyderabad.
In last trading session, the stock price of WSTI surged more than 25% to close the trading session at $0.0500. The gains came at a share volume of 3.58 million compared to average share volume of 3.75 million.