 |
 |
||||||
[May 2007]
Superconductive Components Reports Improved First Quarter Results
Superconductive Components Inc (Columbus, OH, USA) the manufacturer of high quality sputtering targets for select markets in the physical vapour deposition industry, has announced Q1 2007 results.
The first quarter 2007 highlights versus the same period last year included:
-- Total revenues more than doubled to approximately US$2.5 million.
-- Gross profit up 68% to approximately US$0.5 million.
-- Net income per diluted share after dividends on preferred stock of US$0.01 versus a net loss of US$(0.02).
-- Backlog increased fourfold to US$3.3 million at 31 March 2007 compared to the same date in 2006.Dan Rooney, Chairman, President and CEO, said: “Our first quarter performance included strong sales growth, higher gross profit and profitability. The results benefited from a significant increase in orders during the first three months of this year and we ended the quarter with solid backlog. As previously disclosed, we recently ordered new equipment to increase development activities and also scale our capacity to manufacture higher volumes of products for the solar and thin film battery markets. We are pleased with the solid start to the year and look forward to further progress this year as we focus on sound execution of our growth strategy.
“During the first quarter we added resources to complement activities that were initiated during the fourth quarter of 2006 to develop our presence in niche markets of the semiconductor industry. We are encouraged by initial indications of interest for our products in these markets and plan to increase SCI's marketing and sales efforts throughout 2007.”
www.sciengineeredmaterials.com
ENDS