SatCon Electronics Announces Over $3.0 M In New Contracts; SatCon's Electronics Unit Quarter-End Order Backlog Reaches 2 Yr High
DOW JONES NEWSWIRES
April 1, 2004 11:04 a.m.
CAMBRIDGE, Mass. -- SatCon Technology Corp.'s (SATC) electronics unit received more than $3 million in new contracts during the fiscal second quarter, boosting quarter-end backlog to its highest level in two years.
In a press release Thursday, the maker of electronic power control systems said the division's backlog is about $5 million. That includes $640,000 of orders for system-level assemblies used in military satellite communications mobile base stations.
For the quarter ended March 29, 2003, SatCon recorded revenue of $5.5 million, which included electronics unit product revenue of $2 million. The company's loss for the quarter was $12.2 million, or 69 cents a share.
For the quarter ended March 30, 2002, SatCon reported revenue of $10.3 million, including electronics unit product revenue of $2.5 million. The company's loss for the quater was $5 million, or 30 cents a share.
At about 11 a.m. EST Thursday, the company's shares traded at $2.84 on the Nasdaq National Market, up 23 cents, or 8.8%. Composite volume was 382,684 shares, compared with the stock's average daily trading volume of 365,548 shares. |
