TORONTO, April 16, 2015 /PRNewswire/ -- Atlantic Wind & Solar, Inc. (OTC: AWSL) is pleased to announce its results on financial operation for fiscal year ending Dec 31, 2014.
Sales growth continued with sales up 38 % to $5,409,135.00 and profitability up substantially to 2,410,768.00 representing a 1,138% improvement for the same period.
Operating expenses dropped for the 6th straight year to 542,355.00 down 46.6% from the previous year.
The balance sheet was improved significantly with accounts payable and accounts receivable reductions of 45.4% and 53.7% respectively.
Total liabilities were reduced to 2,267,031 down 53% against total assets of 4,407,107.
Commenting on the results, Chairman & CEO Gilles Trahan said: "I am pleased to report Atlantic continued its sales and earnings growth pattern established over the past five years. This was despite the foreign exchange hit on Canadian dollar derived sales. We are very proud of the work we have done to strengthen our balance sheet and continue to cut costs while still growing our sales pipeline. I thank our team for their dedication."
To read the full report visit http://www.atlanticwindandsolar.com/news-82.html
About Atlantic Wind and Solar Inc:
Atlantic is a developer of utility scale renewable energy plants with over 650 MW's of projects at various stages of development in Canada, South America and the Caribbean.
For more information and to sign up for news alerts and updates visit the company's web site at: www.AtlanticWindandSolar.com.
Disclaimer: Shareholders and investors are strongly cautioned against placing undue reliance on information set forth within this website and these communications in making any investment decisions concerning our securities. The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the Company's periodic reports filed with the OTCMarkets.com including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. Nothing within this site is meant to be a solicitation to buy or sell our securities. Investing in over the counter (OTC) securities often carries a high degree of risk. Please contact your financial advisor before investing in our securities.
Atlantic Wind & Solar Inc.
Main: +1-(416)-900-0380 ext 321
Toll Free: +1-(800)-891-1657
Email: [email protected]
SOURCE Atlantic Wind & Solar, Inc