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[December 2002]
SCCI Reports Third Quarter Results
Superconductive Components Inc (Columbus, OH, USA) - the manufacturer of advanced ceramic, optical materials and high temperature superconductive and non-superconductive products - announced a US$4,083 loss applicable to common shares for the three months ended 30 September 2002, versus income applicable to common shares of US$22,407 for the third quarter of 2001. The third quarter 2002 net loss represented US$0.00 per diluted share compared with US$0.01 last year.Dan Rooney, President and CEO, commented: "There were several positive achievements during the quarter which reflected our sharpened focus on the company's strategy to pursue specific market opportunities that best utilize its established strengths and capabilities.
"On a sequential quarter basis, these included a 20% increase in total revenues over second quarter 2002 as well as improved gross margin, lower general and administrative expenses, and nearly breakeven performance regarding income applicable to common shares.
"We are actively involved in activities directly related to the commercialization of lithium thin-film batteries, which is expected to materialize in the first half of 2003. The Company is pursuing plans to be a substantial supplier to customers in this market."
Total revenues for Q3 of 2002 were US$863,179, which represented the highest amount in the past four quarters. However, this was 3.2% below total revenues in Q3 of 2001. Weak economic conditions prevailed through the quarter, resulting in uneven product sales patterns. Product sales declined 3.1% to US$794,803 for the quarter from US$820,044 in Q3 of 2001.
ENDS