SATC's Electronics Division provides sales updat;
SatCon Announces over $3.0 Million in New Electronics Division Contracts for the Second Consecutive Quarter
CAMBRIDGE, Mass., Jun 29, 2004 (BUSINESS WIRE) -- SatCon Electronics chosen as
a manufacturing partner for MicroE Systems
SatCon Technology Corporation(R) (Nasdaq NM: SATC), a manufacturer of electronic
power control systems, today announced that its Electronics division received
new contracts in excess of $3.3 million during this past quarter. Included in
this total were approximately $1.3 million of orders for system level assemblies
used in military satellite communications mobile base stations. These orders
combined with other orders for these sub-assemblies over the past 12 months
amounts to over $2.9 million of orders from a major military contractor. The
continuing commitment by these customers shows their acceptance of SatCon
Electronics as a key supplier of these RF (Radio Frequency) communications
systems. The balance of the orders include commercial electronic assemblies of
$0.5 million, F16 and other avionic/military components of $1.0 million, thin
film networks and other standard products of $0.5 million.
In addition, SatCon Electronics has been chosen as a manufacturing partner for
MicroE Systems, a leading provider of precision optical encoder products used in
high volume industrial and commercial equipment. MicroE Systems has placed
approximately $1.0 million of orders for their digital optical encoder with
SatCon during the last 12 months.
SatCon's state-of-the-art, highly integrated, electronics manufacturing facility
provides the high-precision assembly required for these critical optical
assemblies. A hybrid assembly is at the core of the electronics in MicroE's
optical digital encoder. This unique blend of capabilities also enables SatCon
Electronics to continue to support MicroE in expanding volume to meet their
customer needs.
"The combination of automation, extremely accurate component placement and our
clean room facilities, makes us the natural choice for this application," said
David Eisenhaure, president and CEO of SatCon Technology, the parent company of
SatCon Electronics.
"The SatCon Electronics team continues to work with its customers to exceed
customer expectations by consistently delivering on-time, high quality
electronic systems and assemblies," concluded Eisenhaure.
About MicroE Systems
MicroE Systems, a division of GSI Lumonics of Billerica, MA, designs and
manufactures precision optical encoders, interpolation electronics and software,
and closed loop positioning systems for the data storage, semiconductor, factory
automation, medical and industrial equipment markets globally. For a further
information about MicroE Systems, visit their website www.microesys.com.
About SatCon Technology Corporation
SatCon Technology Corporation manufactures and sells power control systems for
critical military systems, alternative energy and high-reliability industrial
automation applications. Products include inverter electronics from 5 kilowatts
to 5 megawatts, power switches, and hybrid microcircuits for industrial,
medical, military and aerospace applications. SatCon also develops and builds
digital power electronics, high-efficiency machines and control systems for a
variety of defense applications with the strategy of transitioning those
technologies into multiyear production programs. For further information, please
visit the SatCon website at www.satcon.com.
Statements made in this document that are not historical facts or which apply
prospectively are forward-looking statements that involve risks and
uncertainties. These forward-looking statements are identified by the use of
terms and phrases such as "believes," "expects," "plans," "anticipates" and
similar expressions. Investors should not rely on forward looking statements
because they are subject to a variety of risks and uncertainties and other
factors that could cause actual results to differ materially from the Company's
expectation. There can be no assurance that the company will continue to
maintain this level of new orders or that it can successfully deliver the
components and systems ordered. Additional information concerning risk factors
is contained from time to time in the Company's SEC filings. The Company
expressly disclaims any obligation to update the information contained in this
release.
SOURCE: atCon Technology Corporation |
