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Wednesday, August 06, 2008

Power-Save Energy Company Announces Positive Second Quarter Financial Results, Revenue for 3 months ended June 30, 2008 was $1,460,469

Power-Save Energy Company Announces Positive Second Quarter Financial Results, Revenue for 3 months ended June 30, 2008 was $1,460,469

SAN LUIS OBISPO, Calif., Aug. 6 2008 - Power-Save Energy Company (OTC Bulletin Board: PWSV.OB), an emerging leader in the renewable energy and energy savings products industry, today announced its fiscal second quarter earnings for the period ending June 30, 2008.

Revenue for the three months ended June 30, 2008 was $1,460,469 compared to $582,548 for the three months ended June 30, 2007, an increase of $877,915 or 151%. The increase was attributable to increased sales of the PS1200 unit for home usage and PS3200 and PS3400 for commercial usage and sales of the recently launched Power-Save Solar Renewable Energy systems. The pre-tax profit for the three months ended June 30, 2008 was $527,266 or 1.8 cents per diluted share compared to $90,743 in 2007, an increase of $436,523 or 481%. The pre-tax profit for the six-month period ending June 30, 2008 was 640,952 or 2.3 cents per diluted share.

Michael Forster, Power-Save Energy Company President and CEO stated, "We're pleased to again announce another profitable quarter following on the heels of our profitable 2007 fiscal year and our profitable first quarter in 2008. When you consider our second quarter results included one-month sales from our recently launched Renewable Energy product line, we're clearly optimistic looking towards the balance of the year. We continue to believe our business is highly scalable and built on a strong foundation. We intend to remain diligently focused on executing our business plan and on continuing to build long term sustainable shareholder value."

About Power-Save Energy Co.

Power-Save Energy Company (http://www.power-save.com) is a marketing and manufacturing company focused on becoming the premier retailer of renewable energy and energy savings products in the United States. The company is dedicated to the mass-market sale of energy saving products and now renewable energy products direct to the homeowner and small business. The company not only provides both quality tested and certified products direct to the consumer, but also provides them at prices affordable to everyone. Power-Save Intends to 'Make Renewable Do-able!'

Safe Harbor Statement

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

SOURCE Power-Save Energy Company

4 comments:

double glazing girl said...

I think it would be great if we could get a similr type of energy company to power save (or indeed a branch of power save itself) in the uk.
At the moment uk residents are being hit really hard by the rising costs of gas and enery bills, despite improving their double glazing / home insulation to try to help.
There should be more renewable options for people in the uk!

Double Glazing Quote said...

I can say that spending money to boost profits is usually saved for the fat times, while cautiously slicing away budgets is the plan of action during recessions. Anyway, thanks for sharing and I definitely visit here more often.

Double Glazing said...

It's a great news.I just hope around the world,there's a power save energy company to ensure energy is used properly.This way money is saved and energy was preserved.

Ginny Crandall said...

This is wonderful news. I love to hear that power saver companies are doing well. It gives me hope for the future.