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[May 2005]
Superconductive Components Inc Shows Some Improvement
Superconductive Components Inc (Columbus, OH, USA) recorded a net loss of US$138,917 for the first quarter of 2005, compared to a net loss of US$285,794 for the same period last year.
Dan Rooney, Chairman, President and CEO, said: "We are encouraged by the relative improvement in our first quarter 2005 results compared to last year. Results were in line with our expectations. The increased marketing activities initiated during 2004 are beginning to gain traction. It is expected they will contribute to higher sales and improved margins going forward, and particularly benefit from more favorable mix of increased ceramic product sales.
"Commercialization of thin-film batteries is beginning to occur through distinct applications for large, diverse end-markets. Some of out thin-film battery customers have raised capital during the past six months for the purchase of manufacturing equipment to substantially increase their production capabilities.
"This is an important step toward broader product market acceptance leading to higher demand for thin-film batteries. We intend to remain the leading supplier to this emerging market and plan to raise additional capital during the first half of 2005 to further expand our manufacturing capabilities."
SCC's total revenue in Q1 2005 increased by 12.8%, from US$509,777 to US$575,059. Product revenues (up 4.7%) accounted for US$486,626 while contract research revenues, substantially increased from US$44,921, accounted for US$88,433 this time as a result of work performed on a Phase II Small Business Innovation Research Grant from the Department of Energy.
ENDS