ECD Ovonics soars from $49.2 mil loss to $49.5 mil PROFIT!!!

September 12 , 2005

Rochester Hills, MI, USA: ECD Ovonics Reports Fiscal Year 2005 Operating Results

Thin film manufacturer, Energy Conversion Devices, Inc. has reported financial results for the fiscal year ended June 30, 2005. The Company reported income from continuing operations of $49.5 million on revenues of $156.6 million, compared to a loss from continuing operations of $49.2 million on revenues of $66.3 million in fiscal year 2004. On a per-share basis, the income was $1.70 (fully diluted) in 2005 compared to a loss of $2.15 in 2004.

"A major contributor to the increased income and revenue for 2005 was $79.5 million in revenue from a license agreement," said Robert C. Stempel, Chairman and CEO. "This one-time, noncash event is consistent with our business strategy of monetizing our intellectual property, which is historically carried at zero on our balance sheet."

For the year ended June 30, 2005, United Solar Ovonic sold 16.0MW ($50.8 million) of PV systems -- an 84% increase over 2004 sales. Additionally, United Solar Ovonic has a six-month order backlog valued at $51 million.

In response to growing demand for its UNI-SOLAR® products, United Solar Ovonic broke ground for its second state-of-the-art solar module manufacturing plant in Auburn Hills, Mich., to double its solar cell/module manufacturing capacity. Occupancy of the new facility is scheduled for May 2006, and it is anticipated that the plant will begin manufacturing products in the fall of 2006 following optimization of the manufacturing equipment.

Cobasys, a joint venture between ECD Ovonics and Chevron, announced that it has received battery pack purchase orders for hybrid vehicle applications from world class automotive companies.

Read the full article on SolarBuzz.com for Solar Energy News





Advertising and Search Engine Optimization Techniques

Find hot new music releases for sale online, and the best rock songs to download for ipods, MP3 players and ROKR phones? Visit Blue Pie Productions for great new artists you can hear on Blue Pie Radio, with Blue Pie songs available for download at iTunes, Yahoo, and MSN Music!


Purchase the new Motorola ROKR ipod phone online at Amazon.com








Purchase solar energy home-based system online through Oksolar.com




Finding it hard to meet someone for a relationship in this modern world??? Maybe try Date.com for online hookups, dating introductions, casual affairs, long-term romance and yes Virginia, even marriage can be arranged.

End of Ads and Blog Search Keywording

ecology

environment

energy

business

research

solar energy