Solar Integrated Roofing Corp. Implements Corporate Synergy Program, Expects to Reach Profitability in 2021
EL CAJON, CA / ACCESSWIRE / September 8, 2021 /Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar and roofing installation company, today announced it has launched a strategic business streamlining program to reduce costs and realize cost synergies across the family of companies. its record sales growth, is expected to turn profitable as early as the quarter ended August 31, 2021.
The program’s focus on reducing labor costs and double overheads will enable a more competitive, streamlined business model – better positioned to drive profitability from its current business base. The leaner organizational structure is also expected to improve communication flow and cross-functional collaboration, leveraging more efficient business processes. The company aims to achieve annual cost savings of more than $1 million to be achieved by December 31, 2021.
“Following our most recent acquisition, we have focused on organic growth and accelerating the path to profitability,” said David Massey, Chairman and Chief Executive Officer of Solar Integrated Roofing Corp. “The main goal of our business synergy program is to implement these measures. These measures will help simplify operations, improve execution and enable a more competitive cost structure.
“The program is accelerating our path to profitability, complemented by our robust revenue growth in recent months. With our continued sales momentum, record sales in July and the busy fall season ahead, we now expect positive and profitable cash flow in the coming quarter. ending on August 31NS. Combined with our recently announced share repurchase program, I believe we are better positioned to create sustainable value for our shareholders than at any other time in our history as a publicly traded company,” concludes Massey.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC PINK:SIRC), is an integrated, single-source solar and roofing installation platform specializing in commercial and residential real estate in the United States. The company serves communities by delivering the best experience through constant innovation and legacy-focused leadership. The company’s wide range of solutions spans the sale and installation of solar energy systems, backup batteries and charging stations for electric vehicles (EVs) to roofing, HVAC and related electrical installation work. For more information, visit the company’s website at: www.solarintegratedroofing.com.
Any statements in this press release that are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, in reference to potential developments affecting the business, prospects, financial condition and other aspects of the business to which this release relates. Actual results of the specific items described in this press release, and the Company’s operations in general, may differ materially from those projected in such forward-looking statements. While such statements are based on the best judgment of the company’s management as of the date of this press release, significant differences in size, timing and other factors could arise from business risks and uncertainties, including, but not limited to, reliance on the business of third parties, general market and economic conditions, technical factors, the availability of outside capital, receipts of income and other factors, many of which are beyond the company’s control. The company disclaims any obligation to update the information in any forward-looking statement. This press release should not be regarded as a general request.
SOURCE: Solar Integrated Roof Corp.
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