For the six months ended June 30, 2006, the company reported net sales of $5.3 million and gross profit of $1.3 million, or 24 percent of sales. This compares to net sales of $2.6 million and gross profit of $438,000, or 17 percent of sales, for the same period last year. The company reported a net loss of $228,000, or $0.03 per share, for the first half of 2006, compared to a net loss of $256,000, or $0.03 per share, in the first half of 2005.

"Our kilowatt installations have been growing steadily in the first half of the year and our outlook for the second half of 2006 remains positive. As such, we believe we will be able to achieve organic revenue growth of at least 50 percent annually in 2006 and 2007. We will also look to expand our presence in underserved markets by opening new offices. We intend to leverage our customer service and
reputation, offering our quality service in new regions. With the $2.0 million raised this quarter, we have the working capital to develop proprietary technology, improve operating efficiencies, and gain better access to solar module inventory," said Cinnamon.

Conference Call Information

Akeena Solar will host an earnings conference call at 11 a.m. Pacific Time today to discuss its second quarter 2006 earnings results. Management will discuss strategy, review quarterly activity, provide industry commentary, and answer questions.

The call is being webcast and can be accessed from the "Investor Relations" section of the company's website at www.akeena.net. If you do not have Internet access, please dial 1-800-798-2884 in the U.S. International callers should dial 1-617-614-6207. If you are unable to participate in the call at this time, the webcast will be archived on the company's website. In addition, a telephonic replay will be available for four business days, beginning two hours after the call. To listen to the replay, in the U.S., please dial 1-888-286-8010. International callers should dial 617-801-6888. The pass code is 97071476.

About Akeena Solar, Inc.

Founded in 2001, Akeena Solar's philosophy is simple: We believe producing clean electricity directly from the sun is the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest national integrators of residential and small commercial solar power systems in the United States, serving customers directly in California, New Jersey, New York, Connecticut and Pennsylvania. For more information, visit Akeena Solar's website at www.akeena.net.

Safe Harbor

Statements made in this release that are not historical in nature constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "plans" "will," "may," "anticipates," believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, the effectiveness, profitability, and marketability of such products, the ability to protect proprietary information, the impact of current, pending, or future legislation and regulation on the industry, the impact of competitive products or pricing, technological changes, the effect of general economic and business conditions. All forward-looking statements included in this release are made as of the date of this press release, and Akeena Solar assumes no obligation to update any such forward-looking statements.

Copyright Business Wire 2006