Sales Increases for Solar Company

April 7, 2003 [] Fafco, Inc. a manufacturer of solar heating systems and IceStor “off-peak” air conditioning products, reported a net income of US$570,100 (US$0.15 per basic share and US$0.14 on a diluted basis) for the year ended December 31, 2002 compared to a net income of US$91,500 (US$0.02 per basic share and on a diluted basis) in 2001. Sales increased by 24.3 percent to US$15,036,500 for the year ended December 31, 2002 from US$12,100,300 in the prior year. This increase was due to increased unit sales of the Company’s IceStor and pool products.
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