| SAN LUIS OBISPO, Calif., Nov 20 /PRNewswire-FirstCall/ -- Power-Save Energy Co. (OTC Bulletin Board: PWSV - News) is pleased to announce its operating results for the third quarter. Revenues for the quarter ending September 30th, 2007 were $703,502 vs. $243,512 in the year ago period, an increase of 189%. Revenues for the nine month period ending September 30, 2007 were $1,760,908 vs. $423,389 in the year ago period, an increase of 316%. The increase in sales is attributable to the increase in number of units of the PS1200 energy savings product and the introduction of the PS3200 and PS3400 commercial device. Gross profit in the third quarter was $544,471 vs. $191,945 in the year ago period, a 184% increase. For the nine months ended September 30, 2007, gross profit was $1,411,375 on gross margins of 80.1% vs. $324,380 gross profits and 76.6% gross margins for the year ago period. Net profit for the third quarter was $65,761 vs. $76,625 in the year ago period, a 14% decrease. Net profit for the nine months ended September 30, 2007 was $342,927 vs. net profit in the year ago period of $37,005, an increase of 827%. After tax net income for the quarter was $55,482 or $.002 per share vs. $76,625, or $.003 in the year ago period. After tax net income for the nine months ended September 30, 2007 was $251,827, or $.009 per share vs. $37,005 or $.001 per share in the year ago period, an increase of 800%. Power-Save has also recently signed an exclusive agreement to market, sell and distribute an innovative alternative energy wind turbine device for urban residential application. Power-Save will begin marketing the new device direct to the public after UL approval for the device is complete. biz.yahoo.com |
