Clear Skies Solar Discusses Future Growth

MINEOLA, N.Y., March 30 /PRNewswire-FirstCall/ -- Clear Skies Solar, Inc. (CSS) (OTC Bulletin Board: CSKH), a full-service renewable energy provider to commercial, industrial, and agricultural clients today announced its anticipated performance in the first quarter of 2010 and discussed the future prospects available for the balance of the year.  CSS had generated revenue of $2,400,000 in 2008, the first year of operations as a public entity and due to the financial crisis could not complete an additional $10 million in projects that same year. With financial markets in flux or non-existent through 2009, CSS generated $200,000 primarily from a 3-month consulting contract with Toshiba Corporation.

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For the first quarter of 2010, the Company is expected to generate revenues of approximately $1,750,000, which represents 75% of the total revenue level the Company achieved during the full year 2008 and much more than was realized during all of 2009.  Clear Skies' management team sees continued growth moving forward into the remainder of this year 2010 and expects the next three quarters to show substantial growth as the credit markets demonstrate renewed stability and consistency.

Clear Skies CEO Ezra Green commented, "With several additional projects awaiting engineering results, as well as projects already under letters of intent, we fully expect to continue expanding our revenues beyond our solid first quarter 2010 results.  Importantly, we are also pleased to announce that we have implemented a streamlined process to help our clients pursue project financing."

"With strong strategic allies and high level client relationships, we have developed a large outstanding backlog of proposals exceeding $100 million, much of which is in the sub-megawatt arena.  These sub-megawatt projects should allow us to complete work more quickly and with a shorter development lead time, thus stabilizing our revenue generation.  With this strategy in place our shortened financing cycle, development and installation times, we currently expect to report a minimum of $16,000,000 in revenue for 2010 with expected average project gross profit margins at 15%," said Mr. Green. Continuing, "These forecasts do not include any Utility projects or Utility scale projects as the cycles can take several quarters to close making it difficult to anticipate start times".  

CSS has been recognized as a premier solar design and installation company that continues to reach new levels of cost effectiveness.  Because the organization has the proven capacity to construct systems at the rate of 200kw, approximately $900,000, per week using only its existing in-house infrastructure, it is expected that little or no additional staff will be need to achieve the forecasted 2010 revenue level of $16 million.  

About Clear Skies Solar:

Clear Skies Solar, Inc. (CSS) through its wholly owned subsidiary provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSS has become one of the premier solar electric installation companies in the country. For more information about CSS, visit http://www.clearskiessolar.com/.

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SOURCE Clear Skies Solar, Inc.