Replies to post #15451 on Sharing Knowledge in Smallcaps

[timhyma]

No, Don't watch much TV here, lol.

[KauaiPI]

ENER~last at 4:00PM ET: $20.05 -3.45 (14.68%) ..ouch, I took my last off the table at 20.29 for 142% gain. I thought I had set a stop loss going into the earnings report but somehow forgot to follow through. This one cost me dearly --groan--

Still dropping in AH [[After Hours (RT-ECN): 19.98 0.07 (0.35%)]]

Energy Conversion 3Q Loss Narrows on Sales
Tuesday May 10, 2:44 pm ET
Energy Conversion Devices Third-Quarter Loss Narrows Slightly on Solar Panel Sales


ROCHESTER HILLS, Mich. (AP) -- Energy Conversion Devices Inc., a maker of rechargeable batteries and solar panels, said Tuesday that third-quarter losses narrowed slightly as improved product sales offset lower revenue from product development agreements.

Losses declined to $11.3 million, or 39 cents per share, from $12.3 million, or 49 cents per share, a year ago.

Revenue rose 8 percent to $17.9 million from $16.5 million last year, driven by a 57 percent increase in product sales, which climbed to $13.5 million.

However, Energy Conversion shares fell $2.40, or 10.2 percent, to $21.10 in afternoon trading on the Nasdaq. Two analysts surveyed by Thomson Financial had forecast a smaller loss of 26 cents per share on higher sales of $19.5 million.

The company's United Solar Ovonic segment, which makes solar panels to charge batteries, booked sales of $12.5 million, up 79 percent from last year, and reported a backlog of $34.7 million. Product development agreement revenue fell 51 percent to $3.4 million because of lower revenue from the company's battery manufacturing joint venture with ChevronTexaco.

"We have been implementing planned improvements to our manufacturing processes and procedures at United Solar Ovonic and expect further increases in production volume," said Chairman and CEO Robert C. Stempel in a statement. "We will also continue our companywide effort to restructure costs and grow revenue so that we can meet our commitment of sustained profitability by July 2006."

I think others may also be concerned over the revenue from the batteries in the Hybred applications not being as outstanding as hoped for. The solar division complete with the 34.7M back log seemed strong but the losses continue. I wonder if they will ever make any money <bg>

Oh well, this one now goes to the "watch list" for the time being.

best!
kp