TORONTO | April 16, 2015 — Atlantic Wind & Solar releases 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.”