SEATTLE, WA--(Marketwired - Mar 28, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article that will take a look at SolisTek Inc.'s (OTCQB: SLTK) compelling products and strong financial performance last year.
The legal cannabis industry is expected to surpass $50 billion in size over the coming decade, which has created numerous opportunities for investors in the space. While some companies offer investors exposure to growing the drug, others are focused on ancillary markets that may involve less regulatory risk. Investors may want to consider adding the latter type of companies to their portfolio to diversify risk and build exposure to other parts of the industry.
Leader in Cannabis Lighting
The legal cannabis industry is expected to reach $50 billion in size by 2026, according to Cowen & Co., which has generated significant demand for growing equipment. In fact, Scotts Miracle-Gro Co., a $5.6 billion agricultural giant known for lawn care products, spent around a half billion dollars creating a Hawthorne Gardening Co. subsidiary to capture portions of the booming urban gardening and hydroponics market last year.
SolisTek is focused on the research, design, development, and manufacturing of advanced, energy efficient greenhouse indoor horticulture lighting and ancillary equipment within this booming market. By applying the latest advances in high efficiency lighting and controls, the company delivers highly differentiated products with clear benefits and competitive prices to greenhouse and indoor horticulture markets targeting the cannabis industry.
The company's three differentiating technologies include:
- Ignition Control™ - A lamp ignition technology that ignites lamps one-at-a-time based on load stability rather than randomized start-up. This helps prevent surges and spikes that can overload circuit breakers while maximizing electrical efficiency.
- SenseSmart™ - A pre-ignition self-diagnostic and safety tool that checks eight different factors before attempting to power a lamp. The technology detects things like lamp compatibility issues, overheating, or defective lamps and displays an error code.
- Total Harmonic Distortion - THD is caused by putting different waveform distortions together in a power supply and can cause distorted voltages and overloaded equipment failures. The company's technology runs at very low THD ratings versus competitors.
These technologies are incorporated into nearly 40 different products that the company sells through its website and distributors. These products include complete fixtures, digital ballasts, digital lamps, reflectors, lighting accessories, and official apparel. The products are sold in approximately 500 retail locations, as well as through a few wholesale distributors covering Canada, Spain, Australia, Germany, Italy, Austria, Czech Republic, France, and the U.K.
Strong Financial Performance
SolisTek reported record revenue that increased 25% to $7,713,456 last year driven by increased demand for hydroponics equipment. At the same time, gross profit margins increased 10% to 35%, which yielded gross profit of $2,719,036 for the year. The increased profit margins were attributed to greater operating efficiencies coupled with sales of higher margin lamp products last year compared to the year-ago period in 2014.
"We are pleased that we were able to achieve record revenues from sales in 2015 as we expect to increase revenues in 2016," said SolisTek Inc. CEO Alan Lien in a recent press release. "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 hydroponics equipment."
Please follow the link to read the full article:
For more information, visit the company's website or CannabisFN's company profile.
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
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Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/