Shares of RGS Energy (NASDAQ: RGSE) are up more than 30% in morning trade after the solar company provided a business update following its presentation at the 29th Annual Roth Conference last month. RGS Energy noted its first-quarter sales increase of 194%, expected strength in the residential solar market, and how its growth strategy differs from larger peers. “I feel good about the progress we are making since we presented our strategy for top line revenue growth at the Roth conference. Our vision remains to grow top line revenue by growing the size of our sales organizations, and supporting them with training and cost effective marketing leads. We made the strategic decision not to adopt the business model of major solar companies whereby it appears to us the more they grow, the more they lose,” RGS Energy CEO Dennis Lacey stated in the news release. “I feel we have been making the right calls. We were the first public residential focused solar company to adopt direct ownership versus leasing. We also made the call early on that the industry model for customer acquisition costs was too expensive, exited unprofitable markets such as large commercial, and physically exited the highly saturated costly California market. We have already taken the painful steps to optimize our operating cost structure and are the only debt-free public residential focused solar company in the United States.”
To view the full press release, visit http://nnw.fm/jGHf7
About RGS Energy
RGS Energy (NASDAQ: RGSE) is a residential and small business commercial solar Company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions – from system design, construction planning, customer financing assistance, installation, to interconnection and warranty. RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.” For more information, visit www.RGSEnergy.com
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