Home > Press > Pacific Fuel Cell Reports Third Quarter Results
--Company Continues Transition from Development Stage, with Revenues from Bipolar Plate Manufacturing--
Pacific Fuel Cell Reports Third Quarter Results
TUSTIN, CA | Posted on November 27th, 2007
Pacific Fuel Cell Corp. (OTCBB: PFCE), a leading specialty component manufacturer to the fuel cell industry, today announced results for the third quarter ended September 30, 2007.
The company reported revenues of $140,158 for the most recent three-month period, representing the commercial launch earlier this year of its bipolar plate manufacturing operation. There were no revenues in the same period last year. As expected, Pacific Fuel Cell sustained a net loss for the 2007 third quarter of $412,077, or $0.01 per basic and diluted share, compared with a net loss of $176,990, or $0.00 per basic and diluted share, in the comparable year-ago period.
"This is an exciting time in the history of Pacific Fuel Cell as we ramp up our bipolar manufacturing facility in anticipation of continued growth and move from development stage to production," said George Suzuki, president and chief executive officer. "Our ability to manufacture both high and low temperature graphite-based bipolar plates fills an important need in the fuel cell industry and positions us to become the premier component provider. We anticipate that the Ohio facility will reach breakeven by the first half of 2008."
Total operating expenses in the third quarter ended September 30, 2007 were $548,705, compared with $174,960 in the comparable year-ago period, reflecting preparing the manufacturing facility for production, as well as associated higher general and administrative costs.
For the nine-month period ended September 30, 2007, PFCE reported revenues of $276,081 compared with no revenues for the corresponding period last year. Net loss for the first nine months of fiscal 2007 was $1,098,428, or $0.02 per basic and diluted share, compared with a net loss of $375,925, or $0.01 per basic and diluted share, a year ago.
Total operating expenses for the 2007 year-to-date period were $1,373,067, versus $373,961 in the same period last year.
About Pacific Fuel Cell Corp.
Pacific Fuel Cell Corp. is a nanotechnology company committed to producing fuel cell components with reduced cost and higher performance in the portable, stationary and micro fuel cell market.
For more information about Pacific Fuel Cell, please visit http://www.pfce.net .
Certain matters discussed in this press release, including, but not limited to the Ohio facility reaching breakeven, may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and, as such, may involve known and unknown risks and uncertainties. Other factors also may cause actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
For more information, please click here
Copyright © Business Wire 2007
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Silicene Labs Announces the Launch of Patent-Pending, 2D Materials Composite Index™ : The Initial 2D Materials Composite Index™ for Q2 2014 Is: 857.3; Founders Include World-Renowned Physicist and Seasoned Business and IP Professionals July 24th, 2014
Iranian Scientists Produce Transparent Nanocomposite Coatings with Longer Lifetime July 24th, 2014
Deadline Announced for Registration in 7th Int'l Nanotechnology Festival in Iran July 23rd, 2014
A Crystal Wedding in the Nanocosmos July 23rd, 2014
Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 July 23rd, 2014
Aspen Aerogels, Inc. Schedules Second Quarter 2014 Earnings Release and Conference Call July 15th, 2014
Nanometrics to Announce Second Quarter Financial Results on July 30, 2014 July 9th, 2014
Small, but heading for the big time: Nanobiotix revenue for the 1st quarter of 2014 and new composition of the shareholding May 12th, 2014
Media Advisory: Minister Rempel to Announce Support for Alberta's Nanotechnology Sector June 20th, 2014
Evolution of a Bimetallic Nanocatalyst June 6th, 2014
University of Surrey collaborates with India and Tata Steel to revolutionise renewable energy March 26th, 2014
Novel membrane reveals water molecules will bounce off a liquid surface: Study may lead to more efficient water-desalination systems, fundamental understanding of fluid flow March 16th, 2014