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As of April 23, 2009, there were 28,706,222 shares of the registrant's Common Stock outstanding.
Heat Reflective Film Helps Auto Makers Improve Fuel Efficiency, Reduce GHG Emissions
Heat Blocking Auto Glass Can Help Auto Industry Reduce Air Conditioning Power Consumption Up to 20%, Increase Fuel Efficiency Up to 5%, and Save 1.4 Billion Gallons of Gas Annually
PALO ALTO, Calif.--(BUSINESS WIRE)--In response to President Barack Obama’s plan to increase and accelerate industry requirements for higher gas mileage and lower greenhouse gas (GHG) emissions, Southwall Technologies Inc., the worldwide innovator of high performance energy-saving films and glass products, today called on automakers to install infrared (IR) reflective glass using XIR film technology in all new vehicles. Doing so would be an immediate and cost-effective step toward improving fuel efficiency and reducing emissions.
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SWTX.OB 1.02 +0.32
{"s" : "swtx.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} “Automotive decision makers may be surprised to discover that existing technologies, such as IR reflective glass using XIR film, can help them meet the President's mandate to accelerate fuel efficiency in US cars," said Dennis Capovilla, Southwall Technologies’ President and CEO. “Europe has adopted automotive glass with XIR film technology in over 20 million vehicles since 1993, and it represents low-hanging fruit for US vehicle manufacturers seeking to deliver tomorrow’s high-efficiency vehicles today.”
According to the US Department of Energy’s Vehicle Ancillary Load Reduction Project Close-Out Report, some 230 million vehicles in the US consume 7 billion gallons of fuel annually to power air conditioning (AC). This is equivalent to 5.5% of the total domestic light-duty vehicle petroleum consumption. AC use can have an even more dramatic impact for high-efficiency vehicles, increasing fuel consumption by as much as 35%. XIR heat reflective glass significantly reduces the amount of solar heat entering a car, enabling automotive engineers to downsize the AC system while maintaining a comfortable cabin temperature.
“Standardizing on IR reflective glass enables smaller AC systems for all vehicle models," Capovilla added. "This not only justifies the cost premium of the glass but also makes it a value-added feature for consumers who are increasingly seeking options to reduce their impact on the environment.”
Southwall Technologies’ heat reflective XIR film is available off-the-shelf to automotive glass manufacturers who laminate it with uncoated glass to create high-performance and cost-effective IR reflective glass. Because XIR film is laminated with uncoated glass, it enables any automotive glass manufacturer to produce IR reflective glass today without the need to invest tens of millions of dollars in glass coating equipment. XIR film also makes IR reflective glass cost-effective for low-to-mid volume model runs and for aftermarket replacement glass that otherwise could never justify the fixed costs associated with glass coating production.
Southwall Technologies Inc (OTCBB:SWTX - News) is recognized as an innovator in the development and manufacture of high performance, energy-saving films and glass products that dramatically improve the energy efficiency of architectural and automotive glass. Southwall is an ISO 9001:2000-certified manufacturer with customers in over 25 countries around the world, including Saint-Gobain Sekurit, Pilkington, Guardian, AGC and Soliver. Glazing systems incorporating XIR film are offered by the world’s leading automotive manufacturers such as Audi, BMW, Daimler, Ford, Volkswagen and Land Rover.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5973546&lang=en
I saw that they had 3-4 million in sales in Europe last quarter for windshields but US only around 1.4 million......With new mandates US sales could see a huge jump up almost overnight.....
I agree 100% just grabbed some back during lunchtime, I had a ton of this last year that I had to sell but really like the company and did some good DD back then...
Very nice find, EPS around 6, millions in cash.....expect other states to follow California's lead on new windshield mandates....this is a stock that should continue to climb as story spreads.....
With California passing that bill, SWTX looks like a buyout candidate...
XIR Laminated Glass
Even in cold weather, automobiles may overheat when exposed to direct sunlight. Excessive solar heat gain through clear or tinted glass results in occupant discomfort, excessive energy usage for cooling, and interior fading due to ultraviolet exposure.
XIR® is a transparent film that is encapsulated between layers of PVB (polyvinyl butyral) in laminated automotive glass to form a protective barrier against the harmful effects of the sun. Unlike other approaches that simply absorb and re-radiate heat, XIR film’s spectrally-selective metallic coating actually reflects destructive infrared and UV rays without impairing visible light transmission. XIR laminated glass reduces solar heat gain an average of 35% more effectively than tinted glass, increasing occupant comfort, improving fuel efficiency, and reducing interior fading.
See Clearly and Stay Cool
XIR film is virtually transparent, so it does not affect driver vision. XIR film also protects expensive upholstery and audio equipment by shielding it from over 94% of the sun’s destructive heat and 99% of harmful ultraviolet rays.
Improve Fuel Efficiency
XIR film helps to lower interior temperatures quickly, cooling the passenger cabin to minimize strain on the air conditioner and improve fuel efficiency. A July 2000 desert test program with the U.S Department of Energy’s National Renewable Energy Laboratory (NREL) reported that a test vehicle equipped with XIR reflective film technology had significantly reduced interior cabin temperatures and improved fuel economy by 3%.
Benefits
High light transmission – Virtually transparent
Improves occupant comfort – Blocks 94% of infrared radiation
Increases fuel efficiency – Cooler cabin decreases air conditioner loading
Protects skin and reduces interior fading – Blocks 99% of UV rays
Reduces external noise
Applications
Windshields
Side Lights
Sunroofs
State demands more energy-efficient windshields
Jane Kay, Chronicle Environment Writer
Friday, June 26, 2009
California is the first state in the nation to require car manufacturers to install windshields that block the sun as a way to cut greenhouse gases.
The state Air Resources Control Board voted unanimously Thursday to require all new cars sold in California by 2012 to prevent 45 percent of the sun's total heat-producing energy from entering the car with the windshield rejecting at least half of the sun's energy.
In 2016, car manufacturers will be required to install windows in new cars that prevent at least 60 percent of the sun's heat-producing rays from entering the car. Instead the companies may propose technologies to achieve the equivalent result, the board voted.
Over the objections of Toyota, Mitsubishi and other manufacturers that wanted to delay the regulation, the board members expressed the expectation that the "cooler cars" program would reduce the use of air conditioners, effectively increasing fuel efficiency and reducing greenhouse gases.
The board's scientists estimated that the new measures will equal preventing 700,000 metric tons a year of carbon dioxide from entering the atmosphere in 2020, roughly equivalent to taking about 140,000 cars off the road for a year.
"My view is that this is not another car regulation," said board Chairwoman Mary Nichols. "We're supposed to be in the business of moving California toward a new energy-efficient world, and that includes reflective glass."
The regulation under AB32, or the Global Warming Solutions Act of 2006, would stimulate business in the state, she said.
Some of the companies in favor of the measure, including Applied Materials of Santa Clara, said they are ready to manufacture the solar-absorbing glazing, which is already used in U.S. homes and commercial buildings and in European cars.
Our three largest customers in the automotive glass and window film market, and architectural glass markets include: Saint Gobain Sekurit, Pilkington PLC and Globamatrix Holdings Pte. Ltd., or Globamatrix, which collectively accounted for approximately 64% and 68% of our total revenues during the first three months of 2009 and 2008, respectively.
Under our agreement with Globamatrix, as amended, Globamatrix agreed to a 2004 minimum purchase commitment of $9,000 of product .
For each year after 2004 through the term of the contract, Globamatrix contracted to purchase an amount of product equal to 110% of the amount of product it was required to purchase in the prior year. Globamatrix is contracted to purchase $14,641 of certain products in 2009. During the first three months of 2009, Globamatrix purchased approximately $2,293 of these products, and we are unable to predict purchases for the remainder of the year.
California Mandates Use of Fuel-Saving, Emissions-Reducing Infrared (IR) Reflective Glass on All New Cars & Trucks
Southwall's Heat Reflective XIR(R) Film Provides an Immediate and Cost-Effective Solution for Manufacturers to Meet New Requirements
Jun 26, 2009 8:01:00 AM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesPALO ALTO, Calif.--(BUSINESS WIRE)-- As a result of yesterday's unanimous vote by the California Air Resources Board to enact California Assembly bill AB-32's Cool Car Standards and Test Procedures, auto manufacturers will increase the use of IR reflective glass to improve fuel efficiency and reduce greenhouse gas emissions for vehicles sold in California starting in model year 2012. The phase-in schedule for the new regulations will be aggressive, with full implementation by model year 2014, and apply not only to cars and light duty trucks but to all medium-duty vehicles weighing up to 10,000 pounds.
Today's decision dramatically expands the market for IR reflective glass technology, which blocks the sun's heat to keep a vehicle's interior cool and saves fuel by reducing use of air conditioning, which accounts for 5.5% of total fuel consumption or 7 billion gallons of gas annually. Although the new glass is mandated only for cars sold in California, automakers may eventually decide to adopt the technology nationwide as part of a comprehensive program to meet President Barack Obama's new federal fuel-efficiency standards.
California-based Southwall Technologies (OTCBB:SWTX) manufactures heat reflective XIR film, which is an attractive, off-the-shelf solution designed to meet all aspects of the mandated glass performance. Automotive glass manufacturers can use XIR film to immediately produce IR reflective glass that meets the new regulations without the need to make large capital investments in glass coating equipment.
"Southwall fully supports the efforts of the California Air Resources Board to improve the environment both locally and globally," said Matt Coda, product engineering manager with Southwall Technologies, during testimony yesterday in Sacramento before a public hearing to announce the new regulations. "IR reflective glass incorporating XIR film technology is already being used in over 20 million cars in Europe and can help the US auto industry reduce air conditioning power consumption up to 20% and increase fuel efficiency up to 5%."
Anticipating increased demand for its XIR product, the company expects to expand film production capacity.
"We're ready to help US auto glass manufacturers meet these newly mandated requirements with our innovative and proven XIR film technology," said Dennis Capovilla, Southwall's president and CEO. "The passage of AB-32 is a victory for energy efficiency, and Southwall is well positioned to meet the challenge."
Authorized by passage of the California Global Warming Solutions Act of 2006, the new regulations are part of the Air Resource Board's long term plan to reduce California greenhouse gas emissions to 1990 levels by 2020. In California alone, the new regulations are expected to result in a reduction of greenhouse gas emissions, primarily carbon dioxide, of 0.7 million metric tons per year by 2020 and approximately 1.2 million metric tons per year by 2040.
Southwall Technologies Inc is recognized as an innovator in the development and manufacture of high performance, energy-saving films and glass products that dramatically improve the energy efficiency of architectural and automotive glass. Southwall is an ISO 9001:2000-certified manufacturer with customers in over 25 countries around the world, including Saint-Gobain Sekurit, Pilkington, Guardian, AGC and Soliver. Vehicle glass incorporating XIR film is offered by the world's leading automotive manufacturers, such as Audi, BMW, Daimler, Ford, Volkswagen and Land Rover.
Southwall Technologies' XIR(R) Heat Reflective Film Helps Auto Makers Improve Fuel Efficiency, Reduce GHG Emissions
Heat Blocking Auto Glass Can Help Auto Industry Reduce Air Conditioning Power Consumption Up to 20%, Increase Fuel Efficiency Up to 5%, and Save 1.4 Billion Gallons of Gas Annually
May 27, 2009 8:00:00 AM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesPALO ALTO, Calif.--(BUSINESS WIRE)-- In response to President Barack Obama's plan to increase and accelerate industry requirements for higher gas mileage and lower greenhouse gas (GHG) emissions, Southwall Technologies Inc., the worldwide innovator of high performance energy-saving films and glass products, today called on automakers to install infrared (IR) reflective glass using XIR film technology in all new vehicles. Doing so would be an immediate and cost-effective step toward improving fuel efficiency and reducing emissions.
"Automotive decision makers may be surprised to discover that existing technologies, such as IR reflective glass using XIR film, can help them meet the President's mandate to accelerate fuel efficiency in US cars," said Dennis Capovilla, Southwall Technologies' President and CEO. "Europe has adopted automotive glass with XIR film technology in over 20 million vehicles since 1993, and it represents low-hanging fruit for US vehicle manufacturers seeking to deliver tomorrow's high-efficiency vehicles today."
According to the US Department of Energy's Vehicle Ancillary Load Reduction Project Close-Out Report, some 230 million vehicles in the US consume 7 billion gallons of fuel annually to power air conditioning (AC). This is equivalent to 5.5% of the total domestic light-duty vehicle petroleum consumption. AC use can have an even more dramatic impact for high-efficiency vehicles, increasing fuel consumption by as much as 35%. XIR heat reflective glass significantly reduces the amount of solar heat entering a car, enabling automotive engineers to downsize the AC system while maintaining a comfortable cabin temperature.
"Standardizing on IR reflective glass enables smaller AC systems for all vehicle models," Capovilla added. "This not only justifies the cost premium of the glass but also makes it a value-added feature for consumers who are increasingly seeking options to reduce their impact on the environment."
Southwall Technologies' heat reflective XIR film is available off-the-shelf to automotive glass manufacturers who laminate it with uncoated glass to create high-performance and cost-effective IR reflective glass. Because XIR film is laminated with uncoated glass, it enables any automotive glass manufacturer to produce IR reflective glass today without the need to invest tens of millions of dollars in glass coating equipment. XIR film also makes IR reflective glass cost-effective for low-to-mid volume model runs and for aftermarket replacement glass that otherwise could never justify the fixed costs associated with glass coating production.
Southwall Technologies Inc (OTCBB:SWTX) is recognized as an innovator in the development and manufacture of high performance, energy-saving films and glass products that dramatically improve the energy efficiency of architectural and automotive glass. Southwall is an ISO 9001:2000-certified manufacturer with customers in over 25 countries around the world, including Saint-Gobain Sekurit, Pilkington, Guardian, AGC and Soliver. Glazing systems incorporating XIR film are offered by the world's leading automotive manufacturers such as Audi, BMW, Daimler, Ford, Volkswagen and Land Rover.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5973546&lang=en
Source: Southwall Technologies
----------------------------------------------
John Miller Public Relations
Los Gatos
CA
John Miller
408-354-2400
miller@johnmillerpr.com
Southwall Announces Q1 2009 Results
May 13, 2009 8:30:00 AM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesPALO ALTO, Calif.--(BUSINESS WIRE)-- Southwall Technologies Inc. (OTCBB: SWTX) announced first quarter 2009 revenue of $6.5 million, down 8% from fourth quarter 2008 revenues of $7.0 million and down 39% from first quarter 2008 revenues of $10.6 million. The year over year decrease was primarily due to a sharp decline in sales of automotive products and the impact of generally lower demand across all markets due to the global economic downturn. First quarter 2009 net income increased to $2.3 million, or $0.07 per diluted share, as compared to a net loss posted in the fourth quarter 2008 of $0.2 million, or a loss of $0.01 per diluted share. First quarter 2008 net income was $2.0 million, or $0.06 per diluted share. Net income in the first quarter 2009, included approximately $2.4 million of other income relating to the reversal of an accrued, long term reserve resulting from final payment of the Company's obligation under a settlement agreement.
First quarter 2009 gross profit was $2.4 million, or 38% of net revenues, as compared $2.7 million, or 39% of net revenues, in fourth quarter 2008 and $4.9 million, or 46% of net revenues, in first quarter 2008. The Company posted income from operations of $0.1 million in the first quarter of 2009, as compared to $0.1 million in the fourth quarter 2008 and $2.1 million in the first quarter of 2008. Fixed production costs in the first quarter of 2009 did not decline at the same rate as sales volume, resulting in lower gross margins year over year.
Over the last six quarters, the Company generated cash through increased sales of higher margin products, eliminated unprofitable product lines, and aggressively managed working capital and operating expenses. This enabled Southwall to retire certain existing debt, thus improving the Company's debt ratios and strengthening the balance sheet. From the third quarter of 2007 through the first quarter of 2009, Southwall has reduced debt by $7.6 million, reducing the debt to asset ratio from 33% in the third quarter of 2007 to 14% at the end of the first quarter of 2009.
Despite the sales decline over the last two quarters, Southwall continues to focus on a broad portfolio of high performance energy products to meet the growing global need for improved energy efficiency in green building and automotive design.
"While the global economy is having a visible impact on our core markets, we have minimized our debt and remain focused on disciplined financial management to carry us through this period of financial uncertainty," said Dennis Capovilla, Southwall's President and CEO. "Though we expect lower sales and profit in the near term as the economy continues to struggle, we remain focused on our key growth initiatives to produce innovative, high performance, energy-efficient products."
About Southwall Technologies Inc.
Southwall Technologies Inc. is recognized as an innovator in the development and manufacture of high performance, energy-saving films and glass products that dramatically improve the energy efficiency of architectural and automotive glass. Southwall is an ISO 9001:2000-certified manufacturer with customers in over 25 countries around the world, including Audi, BMW, DaimlerChrysler, Guardian, Peugeot-Citroen, Pilkington, Renault, Saint-Gobain Sekurit, and Volvo.
This press release may contain forward-looking statements, including, without limitation, statements regarding the Company's expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those presented. These risks include the possibility that the Company's expected future results will be materially worse than estimated, that the Company may not continue to be profitable in future quarters or may not be able to achieve future long-term growth, that there will be a decline in one or more portions of our business in 2009 or thereafter, that the Company will not be successful in improving operating performance or controlling costs, that the Company will suffer a decline in manufacturing or financial effectiveness, that the Company's new product development will not be successful, that there may be decreasing demand in certain markets and that the Company will not be able to secure additional financing if required, as well as risks associated with its failure to meet potential covenant requirements under future credit facilities. Further risks are detailed in the Company's filings with the Securities and Exchange Commission, including those set forth in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2008, filed on March 26, 2009.
SOUTHWALL TECHNOLOGIES INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three months ended
March 31, March 31,
2009 2008
Net revenues $ 6,496 $ 10,570
Cost of revenues 4,051 5,719
Gross profit 2,445 4,851
Operating expenses:
Research and development 682 709
Selling, general and administrative 1,690 2,038
Total operating expenses 2,372 2,747
Income from operations 73 2,104
Interest expense, net (70 ) (139 )
Other income, net 2,433 193
Income before provision for income taxes 2,436 2,158
Provision for income taxes 157 113
Net income 2,279 2,045
Deemed dividend on preferred stock 122 122
Net income attributable to common stockholders $ 2,157 $ 1,923
Net income per common share:
Basic $ 0.08 $ 0.07
Diluted $ 0.07 $ 0.06
Weighted average shares used in computing net income per
share :
Basic 28,707 27,820
Diluted 33,770 33,520
SOUTHWALL TECHNOLOGIES INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31, December 31,
2009 2008
ASSETS
Current assets:
Cash and cash equivalents $ 7,776 $ 10,768
Restricted cash - 282
Accounts receivable, net 4,826 3,709
Inventories, net 6,325 5,965
Other current assets 1,213 745
Total current assets 20,140 21,469
Property, plant and equipment, net 13,895 15,012
Other assets 344 804
Total assets $ 34,379 $ 37,285
LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long term debt and capital leases $ 1,119 $ 1,767
Accounts payable 1,232 596
Accrued compensation 666 1,372
Other accrued liabilities 4,825 5,127
Total current liabilities 7,842 8,862
Term debt and capital leases 3,691 4,501
Other long term liabilities 135 2,514
Total liabilities 11,668 15,877
Series A convertible preferred stock 4,810 4,810
Stockholders' equity:
Common stock 29 29
Capital in excess of par value 78,292 78,323
Accumulated other comprehensive income 3,325 4,269
Accumulated deficit (63,745 ) (66,023 )
Total stockholders' equity 17,901 16,598
Total liabilities, preferred stock
and stockholders' equity $ 34,379 $ 37,285
SOUTHWALL TECHNOLOGIES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Three Months ended
March 31, March 31,
2009 2008
Cash flows used in operating activities:
Net income $ 2,279 $ 2,045
Adjustments to reconcile net income to net cash used in
operating activities:
Gain on settlement of liability (2,359 ) -
Deferred income tax 24 -
Loss on disposal of property, plant and equipment 25 -
Depreciation and amortization 622 746
Stock-based compensation charge 92 48
Changes in operating assets and liabilities:
Accounts receivable, net (1,053 ) (4,099 )
Inventories, net (361 ) (1,601 )
Other current and non-current assets (15 ) 790
Accounts payable and accrued liabilities (501 ) 74
Net cash used in operating activities (1,247 ) (1,997 )
Cash flows used in investing activities:
Restricted cash 261 (13 )
Proceeds from sale of property, plant and equipment 28 -
Expenditures for property, plant and equipment (371 ) (369 )
Net cash used in investing activities (82 ) (382 )
Cash flows used in financing activities:
Repayments of term debt and capital lease obligations (1,228 ) (293 )
Net cash used in financing activities (1,228 ) (293 )
Effect of foreign exchange rate changes on cash and cash (435 ) 542
equivalents
Net decrease in cash and cash equivalents (2,992 ) (2,130 )
Cash and cash equivalents, beginning of period 10,768 6,492
Cash and cash equivalents, end of period $ 7,776 $ 4,362
Source: Southwall Technologies Inc.
----------------------------------------------
Southwall Technologies Inc.
Mallorie Burak
650-798-1200
Southwall Announces Q2 2008 Results
Increased Global Demand for Energy Efficient Products Drives Continued Growth in Second Quarter
Aug 12, 2008 7:45:00 PM
Copyright Business Wire 2008
View Additional ProfilesPALO ALTO, Calif.--(BUSINESS WIRE)--
Southwall Technologies Inc. (OTCBB:SWTX) announced second quarter 2008 revenue of $13.7 million, up 29.5% from $10.6 million in the first quarter of 2008 and up approximately 48% from 2007 second quarter revenues of $9.3 million. The year over year increase was primarily due to higher sales of Automotive and Window Film products, which offset the decline in Plasma Display revenues. In 2007, the Company made a strategic decision to exit the low margin display business and focus on its core energy efficiency products. For the first six months of 2008, revenues were $24.3 million, a 23% increase over 2007 revenues of $19.8 million.
Second quarter net income increased to $2.2 million, or $.07 per diluted share, compared to net income of $0.3 million, or $.01 per diluted share, in the second quarter of 2007. The second quarter of 2007 included $1 million of other income from sale of a technology and services in 2007. Year to date 2008 net income was $4.1 million, or $.13 per diluted share, compared to 2007 year to date net income of $0.5 million, or $.02 per diluted share.
Second quarter 2008 gross profit was $5.7 million, or 42% of sales compared to $2.7 million, or 30% of sales in last year's second quarter. Operating profit was $2.8 million, or 20% of sales, compared to negative $0.4 million in the second quarter of last year. A shift in product mix to higher margin, energy conservation products, improved operating efficiencies and continued cost management efforts were the significant factors contributing to the profit improvement.
"We are well positioned for growth in our core energy markets, where our products enable a new level of energy efficiency for green building and automotive design," said Dennis Capovilla, Southwall's CEO. "Demand for improved energy efficiency in the automotive and window film markets is reflected in our second quarter results. Due to the seasonality of our business, the second quarter is an important quarter and a significant contributor to our annual revenue and net income."
"Southwall is committed to continued product innovation and channel expansion to meet an increasing global demand for energy efficiency in buildings and cars," continued Capovilla. "The recent growth in sales highlights a growing consumer awareness of energy efficiency as a cost-effective and readily-available green technology choice that can have an immediate impact on saving energy and reducing carbon emissions."
About Southwall Technologies Inc.
Southwall Technologies Inc. is recognized as an innovator in the development and manufacture of high performance, energy-saving films and glass products that dramatically improve the energy efficiency of architectural and automotive glass. Southwall is an ISO 9001:2000-certified manufacturer with customers in over 25 countries around the world, including Audi, BMW, DaimlerChrysler, Guardian, Peugeot-Citroen, Philips, Pilkington, Renault, Saint-Gobain Sekurit, and Volvo.
8K filed 7/1/08 - they don't know what it means, I sure don't.
Item 8.01 Other Events
In September 1995, Pilkington filed a patent application in Germany for XIR film characteristics. Southwall challenged the patent. This patent was revoked by the German Patent Court on April 20, 2004. A separate patent application had been filed by Pilkington in the European Patent Office on September 13, 1996, and a patent was granted. A separate opposition has been filed by southwall; however, the European Patent Office did not allow the opposition and maintained the patent. The Company cannot assess the impact at this time.
I'm waiting for the next catalyst to add more, it has potential imo...
i like it to ...buying some today...
I could use some more myself!
i agree with you, i still need to do more dd but everything i have read has me very interested in this company.
own shares and plan to add
Just graabed a load at $1.75 thinking under $2 looks pretty good to me...
O/S has not changed in years either...
The number of shares of the registrant's Common Stock outstanding on March 1, 2005 was 26,778,482.
Only 1 million added since 2005...
Sound Solutions Forms Joint Venture With Southwall Technologies
CHICAGO--(BUSINESS WIRE)--Sound Solutions, LLC, a Chicago-based manufacturer of windows, patio, storm and entry doors, is pleased to announce the completion of a joint venture with Southwall Technologies Inc, of Palo Alto, California, forming Southwall Insulating Glass, LLC.
The new company will offer a wide palette of customized, high performance insulated glass products to residential and commercial window and door fabricators. In addition to incorporating high efficiency Heat Mirror® suspended film from Southwall Technologies, the new company will offer a variety of glass and spacer options to meet the wide range of insulating glass performance being demanded in the marketplace.
The high performance family of glass products will provide a new level of energy savings that dramatically reduce a home or building’s CO2 emissions, making it the most complete family of green, eco-friendly insulating glass products in the marketplace. Laminated, tempered and storefront glass systems will also figure prominently into Southwall Insulating Glass’ product mix.
Ron Spielman, President of Sound Solutions, brings 40 years of glass and window fabrication experience to the new company and complements Southwall’s 30 years of research, development and production of coated and suspended film technology. The joint venture will allow Southwall Insulating Glass to introduce innovative products to meet the rising demand for energy-efficient insulating glass.
The customers of Armaclad Windows and Doors, a division of Sound Solutions, will immediately benefit from the new glass offerings through the various windows and door systems offered through Armaclad. The expanding glass options will enable the dealer organization to truly differentiate itself from the competition and gain a competitive edge.
The manufacturing facility for Southwall Insulating Glass will be located in Chicago with production scheduled to begin in 2008.
Must watch Media
http://www.southwall.com/southwall/Home/NewsEvents/Media.html
Southwall Announces Q1 2008 Results
Demand for Energy Conservation Products Drives Improved Operating Margin in First Quarter
PALO ALTO, Calif.--(BUSINESS WIRE)--May 15, 2008--Southwall Technologies Inc. (OTCBB:SWTX) announced first quarter 2008 revenue of $10.6 million, up 21% from the fourth quarter of 2007 and up approximately 1% from the first quarter of 2007. The increase year over year was primarily due to higher sales of Automotive products, which more than offset the decline in revenue relating to Plasma Display product sales resulting from the Company's decision to exit that business and focus on its core energy conservation products.
Net income increased to $2.0 million, or $.06 per fully diluted share, compared to net income of $0.2 million, or earnings of $0.00 per fully diluted share, in the first quarter of 2007. First quarter 2008 gross margins increased to 46% of sales from 42% in the first quarter of 2007 on a shift in product mix to higher margin energy conversation products and improved operating efficiencies. Operating margins increased to 20% of sales from 5% due to cost reduction efforts begun last year to more closely align the Company's operating expenses with its strategic objectives. Overall, operating expenses decreased $1.1 million, or 29%, year over year.
Dennis Capovilla, Southwall's President said of the Q1 results, "We believe that we are well positioned for growth in our core energy markets, where our products enable a new level of energy efficiency for green building and automotive designs. The recent increase in sales for our energy conservation products follows a growing global trend, highlighting consumer awareness that energy conservation is an efficient, effective and readily-available renewable technology choice that can have an immediate impact on saving energy and reducing carbon emissions."
As of April 21, 2008 , there were 27,819,622 shares of the registrant's Common Stock outstanding.
It's always a little painful to be a contrary indicator! Enjoy the rise in price. Good luck to all longs!
SWTX is likely going to partner with AMAT. Santa Clara is not far away from Palo Alto and AMAT's recent purchase of Applied Films means they are going to need a team of experts in the coating process. Depositing thin layers of metals and metal oxides onto a flexible substrates is SWTX's specialty and Applied Films makes the chemical vapour deposition equipment. Nice fit.
vertical Integration play
OT: work_hard: I don't have private messaging. Brinkers timing has made me a lot more money than the price of the newsletter. It allowed me to miss most of the 2000 melt down and got me back in March of 2003. My Southwall position is small so I will be riding it up or down and out!!!
I took today's strength as an opportunity to unload my shares. That's usually an indicator that a stock is due for a huge rise in price. Good luck!
work_hard, I still have a few shares left. I am surprised by the strength of the stock after another bad financial report. Maybe something is up? Same crew that helped WMCO could be involved here.
Is there anybody still stuck in this one or am I the only person too lazy to unload it months or years ago? Can anybody give me a reason for staying in it?
Southwall Technologies Inc. Q1 2006 Results Teleconference To Be Webcast May 1, 2006
Monday April 10, 1:20 pm ET
PALO ALTO, Calif.--(BUSINESS WIRE)--April 10, 2006--Southwall Technologies Inc. (OTCBB:SWTX - News) plans to release its financial results for the first quarter fiscal 2006 on Monday, May 1, 2006, following the close of market. The company's management will hold a teleconference at 2:00 p.m. PT / 5:00 p.m. ET that same day.
This call will be open to all investors via a webcast accessible at www.southwall.com and by phone. Both phone and webcast replays will be available for approximately one week after the teleconference, beginning approximately two hours after the call ends.
How to Access the Webcast
Go to the Investor Relations page of the Southwall website at www.southwall.com and click on the CCBN webcast icon. From here, you can listen to the teleconference, assuming that your computer system is configured properly.
How to Access the Call
Using access code # 7758868, domestic U.S. callers can dial (877) 481-7179, while international callers can dial (706) 634-7186. The phone replay will be accessible at (800) 642-1687 or (706) 645-9291, access code # 7758868.
About Southwall Technologies Inc.
Southwall Technologies Inc., designs and manufactures thin film products that selectively absorb, reflect or transmit light. Southwall products are used in a number of automotive, electronic display and architectural glass products to enhance optical and thermal performance characteristics, improve user comfort and reduce energy costs. Southwall is an ISO 9001:2000-certified manufacturer and sells advanced thin film coatings to over 25 countries around the world. Southwall's customers include Audi, BMW, DaimlerChrysler, DuPont, Mitsui Chemicals, Peugeot-Citroen, Philips, Pilkington, Renault, Saint-Gobain Sekurit, and Volvo.
Contact:
Southwall Technologies
Roween Nacionales, 650-962-9111
rnacionales@southwall.com
Interesting insider buys and sells going on. Hood CEO buys stock (6500 shares), then turns around and sells 40K the next day at a lower price. Meanwhile, BOYADJIEF, chairman of the board, keeps buying on the open market.
Something is cooking.... not sure what, buy I would not be surprised if it plays out very soon.
I don't get it!
The charts indicated a continued upward trend, we released a positive earnings report yesterday, and today the stock price plummets.
I just don't get it!
Southwall head fake! Could go either way, hopefully a nice pop coming soon, IMHO! GLTA still here!
Would be nice to have an earnings surprise on the upside!
I sold 80%
I have been a bit of a cheerleader on this stock since Hweb2 found it and I did quite a bit of research on it, so I wanted people to know that I sold 80% of my shares yesterday afternoon and earlier today. I like the company, but they have a long row to hoe. I am going to watch for announcement that they have found a replacement for Indium and that it works! I also worry about the first Q being way off.
Now the BIG problem.....What should I buy today??????
Kipp
SWTX PR just out!
Press Release Source: Southwall Technologies Inc.
Southwall to Present at the New York Display Investment Conference
Monday February 28, 2:00 pm ET
PALO ALTO, Calif.--(BUSINESS WIRE)--Feb. 28, 2005--Southwall Technologies Inc. (OTCBB:SWTX - News). a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced today that it would present at the New York Display Investment Conference. Maury Austin, the company's Chief Financial Officer, is scheduled to present. The U.S. Display Consortium and Needham & Company sponsor the conference.
Where: The Roosevelt Hotel in New York City
Date: Tuesday, March 15, 2005
Time: 4:30 p.m. Eastern Time
About Southwall Technologies Inc.
Southwall Technologies Inc., designs and produces thin film coatings that selectively absorb, reflect or transmit light. Southwall products are used in a number of automotive, electronic display and architectural glass products to enhance optical and thermal performance characteristics, improve user comfort and reduce energy costs. Southwall is an ISO 9001:2000-certified manufacturer and sells advanced thin film coatings to over 25 countries around the world. Southwall's customers include Audi, BMW, DaimlerChrysler, Hewlett-Packard, Mitsubishi Electric, Mitsui Chemicals, Peugeot-Citroen, Philips, Pilkington, Renault, Saint-Gobain Sekurit, and Volvo.
--------------------------------------------------------------------------------
Contact:
Southwall Technologies Inc.
Maury Austin, 650-962-9111
maustin@southwall.com
--------------------------------------------------------------------------------
Source: Southwall Technologies Inc.
SWTX-- I sold a few but held almost all after the Needham conference and watched with dismay as the price slid. I was hoping the 4Q numbers would provide some up volume to allow me to get out. When the numbers came out apparently as strong as they did I considered holding, but these were my concerns after listening to the conference call:
--A revenue increase projection for 2005 of approx 10%. As an analyst noted it could be flat for the next 4 Qs at $16 million and still increase 10% over the $57 million in 2004. They projected $15 million for the 1st Q which didn't impress me.
--The two one time income items HWEB referred to which made the 4Q look better than its operations
--Warnings about lower margins
--A statement that part of the high margins for Q4 was due to the strong Euro. The can cut both ways and certainly can't be counted on going forward
--Finally, the weak balance sheet which is improving but still has a lot of debt. If earnings were projected to grow strongly I could look past it, but a few tight Qs and this company could be behind the 8 ball again. I don't think they will earn more than .15 next year and $1.20 is fair value at that level of earnings.
--I sold my whole position today, but wish good luck to all the logs. This looks like a tricky one to me with a lot of moving parts.
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Southwall Technologies is all about Energy - Conserving, Controlling & Creating. Southwall is recognized worldwide as the leading innovator in the development and manufacture of high performance, energy-saving films and glass products.
As of August 2, 2010, there were 28,831,089 shares of the registrant's Common Stock outstanding.
As of July 31, 2009, there were 28,709,222 shares of the registrant's Common Stock outstanding.
http://www.southwall.com
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http://www.southwall.com/southwall/Home/NewsEvents/Media.html
Innovision Window Advantages made by Owens Corning
Innovision windows come standard with a high performance low-E, argon filled, double-pane insulated glass system complemented by three optional glass packages designed for early morning sun, all-day sun or intense heat exposure, and include multiple low-E coatings, inert gas and solar-reflective Heat Mirror(TM) film from Southwall Technologies. Innovision window dealers are trained on directional solar tuning to help buyers select the right window and the right glass for their specific exposures for maximum comfort and energy efficiency all day, every day.
1974 | The Massachusetts Institute of Technology (MIT) obtains National Science Foundation funding and starts the School of Architecture Solar Energy Laboratory. |
1976 | The founding group incorporates as Suntek and applies to the Energy Research and Development Administration (ERDA) for direct funding. As a condition for the contract, Suntek must be located near a National Laboratory. The company chooses Lawrence Berkeley Laboratories and relocates to Corte Madera, CA. |
1979 | Southwall Technologies Inc. is established in Palo Alto, CA, to commercialize Heat Mirror® transparent insulation. |
1980 | Heat Mirror® 88 introduced. |
1983 | Company name is changed to Southwall Technologies, Inc Heat Mirror® 77 and Heat Mirror® 55 introduced. |
1984 | Southwall Technologies features in Fortune magazine’s 400 fastest growing companies in the U.S. |
1985 | Heat Mirror® 66 and Heat Mirror® 44 introduced. |
1986 | “Heavy Chevy”, the original van that was used to haul the company’s first laboratory equipment from MIT to California, is declared a “Southwall Technologies Historic Vehicle”. |
1987 | Southwall IPO on NASDAQ June 5 (Symbol: SWTX). |
1988 | Heat Mirror® 22 and Heat Mirror® 33 introduced. |
1989 | Heat Mirror® with XUV fading protection is introduced and named “Technology of the Year” by the Association of Industrial Metalizers, Coaters, and Laminators (AIMCAL). |
1990 | Southwall introduces the double-film, krypton-filled Superglass® System. Popular Science magazine chooses Superglass® as Best of What’s New (December). Architecture magazine features Southwall for its innovations in window technology. |
1991 | Door & Window magazine recognizes Southwall with the Diamond Crystal Industry Achievement Award for its contributions to energy conservation. Southwall’s contribution energy conservation also featured by ABC-TV, CNN and The National Audubon Society. Silver Reflector film introduced to increase brightness in new and retrofit Fluorescent light fixtures, reducing commercial building energy consumption. |
1992 | California Series® laminated glass introduced, combining solar control with high light transmittance and low visible reflectivity. HeatSeal® foam spacer introduced. XIR® 75 solar reflective film for laminated automotive glass introduced. |
1993 | Heat Mirror® TC88 and Heat Mirror® SC75 introduced. Agreement with Pilkington Flachglas Automotive to develop XIR® film. |
1994 | Solis® Clear Heat Control film introduced. Solis is a transparent polyester film that is applied directly to windows to block approximately half of the sun’s heat and virtually all of the damaging ultraviolet radiation. |
1995 | Heat Mirror® film is featured on This Old House television series. Popular Science magazine chooses Heat Mirror® TC88 as the Best of What’s New (December). Begin supplying SONY with anti-reflective film coatings for CRT monitors. |
1996 | Agreement with Saint Gobain Sekurit to develop XIR® Laminated. Heat Mirror TC 88 featured in McDonald’s restaurant in Bay Point, CA, designed as a model for energy efficiency. Expected to yield a 25% reduction in electricity consumption. |
1997 | Southwall architectural products featured on American Environmental Review television show. Audi and Renault are first to commercialize XIR® infrared reflecting film into automotive glass. |
1998 | Southwall featured on 21st Century Home television show. Superglass® Quad introduced. Mercedes Benz S-Class automobile features XIR® films throughout the car. |
1999 | Popular Science chooses Southwall Heat Mirror® film as one of the 100 Top Inventions of the Millennium. Southwall products featured on KPIX Channel 5 and KNTV Channel 11 news. |
2000 | Southwall Europe GmbH established near Dresden, Germany. Begin XIR® film production for growing European automotive market. |
2001 | PDX 2.4 film introduced for “Class A” EMI shielding and NIR blocking in plasma display filters. |
2002 | Silver Reflector film introduced for Notebook PC and LCD monitor backlights. |
2003 | PDX 1.5 film introduced for “Class B” EMI shielding and NIR blocking in plasma display filters . |
2004 | Southwall celebrates its 25th anniversary. |
2005 | PDX 1.0 film introduced for “Class B” EMI shielding and NIR blocking in plasma display filters. |
2007 | Launched new generation of V-Kool applied window films for architectural applications. |
2008 | Launched Heat Mirror "S" film for commercial green building projects. Established high-performance glass manufacturing joint venture in Chicago, Southwall Insulating Glass. Heat Mirror voted year's Best Green Building Product by readers of ARCHI-TECH magazine. |
2009 | Southwall supplies Heat Mirror insulating glass for Owens Corning INNOVISION family of fiberglass windows. Southwall celebrates 30th anniversary. |
2010 | Heat Mirror film selected as key enabling technology for the Empire State Building energy efficiency retrofit project. Southwall acquires controlling interest in insulating glass joint venture. Southwall awarded $1.4M from DOE to develop enabling technology for cost-effective, super-insulating R-10 windows. |
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