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Technology Stocks : SatCon Technology (SATC) -- Ignore unavailable to you. Want to Upgrade?

To: dvdw© who wrote (419)	6/23/2004 9:02:43 AM
From: dvdw©	Respond to of 440

OH MY Company updates Bookings Guidance says they will shoot for second half profitability the announcement says SatCon's Power Systems Division Books $2,850,000 in Orders over the Last Four Weeks. This revised guidance against my post on PR's clarifies the facts that in the first press release where 3.5 million is reported as new bookings...the PR says some of the 3.5 million booked goes back to Febr. Someone must have called the company and Asked for an Update to reconcile my post....glad to see that the company responded in a timely manner! CAMBRIDGE, Mass., Jun 23, 2004 (BUSINESS WIRE) -- SatCon Technology Corporation(R) (Nasdaq NM: SATC), a manufacturer of electronic power control systems, announced today that its Power Systems Division has received $2,850,000 in new orders over the last four weeks. "We're beginning to realize the benefits of our expanded product lines, strategic relationships and improved economic conditions," said David Eisenhaure, SatCon president and chief executive Officer. "Of the $2,850,000, $1,000,000 is for test and measurement systems, $500,000 is for magnetics products, $400,000 is for power electronics for such applications as alternative energy and $950,000 was for one of the plasma torch orders announced last week." Continued Eisenhaure, "On an annualized basis, this represents in excess of $35M in bookings for a division that represents 50% of our business. We are pleased to see this increase in our bookings while we continue to control costs. We continue to have a goal to be EBITDA positive for the second half of the year based on expected annual revenues of $35 to $39 million and we remain encouraged about the potential for continued growth." 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: SatCon Technology Corporation(R)