SOURCE: Solis Tek Inc.

Solis Tek Inc.

April 13, 2016 15:37 ET

Solis Tek Inc. Records Revenues of $7,713,456 and a Gross Profit of $2,719,036 for 2015 Year End Financials

CARSON, CA--(Marketwired - Apr 13, 2016) - SolisTek Inc. (OTCQB: SLTK) Solis Tek Inc., a leading provider of digital lighting equipment for the hydroponic industry, reported record revenue from sales for the year ended December 31, 2015 of $7,713,456 compared to revenue of $6,155,379 in 2014. This represents a 25% increase in revenue over 2014. Gross profit for the years ended December 31, 2015 and 2014, was $2,719,036 and $1,516,630, respectively. The gross profit increase of $1,202,406 was primarily due to the increase in revenue, but the Company's gross profit margin also increased from 25% during 2014 to 35% during 2015. The increase in profit margin related to greater operating efficiencies coupled with sales of higher margin products during the 2015 period, primarily lamp products.

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CEO Alan Lien commented "We are pleased that we were able to achieve record revenues from sales in 2015 as we expect to increase revenues in 2016. We are very excited about the growth in our industry and feel that the company is well positioned to take advantage of increased demand for hydroponic equipment."

About Solis-Tek:
Solis Tek Inc. is an importer, distributor and marketer of digital lighting equipment for the hydroponics industry with specific focus on the research, design, development and manufacturing of advanced, energy efficient indoor/greenhouse horticulture lighting and ancillary equipment. Using its proprietary technologies, the Company provides innovative aptitudes with its ballast, reflector and lamp products. The company's vision is to apply the latest advances in high efficiency lighting and controls technology as well as advanced manufacturing techniques to deliver highly differentiated products with clear benefits at competitive prices to the greenhouse and indoor horticulture markets. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information please visit our website

Safe Harbor Statement
This press release contains 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 forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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