Southwall Technologies (SWTX)

[MWM]

Southwall Technologies` Q2 Profits Increase On Growing Product Demand

Southwall Technologies (OTC: SWTX), a California-based manufacturer of insulating glass, saw revenue and profits increase during the second quarter due to rising demand for higher energy efficiency products.

For Q2 2010, the company earned $2.9 million, or $0.08 per diluted share, on revenues of $11.8 million compared to $1.4 million, or $0.04 per diluted share, on revenues of $8.3 million in the comparable period of 2009.

Also during the second quarter, the company increased its ownership in Southwall Insulating Glass, a Chicago-based joint venture that manufactures insulating glass, from 66% to 75%.

In June, the company received a $1.4 million grant from the US Department of Energy to help commercialize its Heat Mirror R10 windows, a glass technology that provides insulation and ehnances energy efficiency in the process.

Southwall`s Heat Mirror products have been chosen to retrofit all 65,000 mirrors of the Empire State Building.

According to the Department of Energy, the 114 million homes and 74 million square feet of commercial floor space in the US account for 40% of the nation`s total energy consumption and 39% of total carbon dioxide emissions.