Bolder Reports Q1 1999 Results

May 06, 1999 by Jeff Shepard

Bolder Technologies Corp. (Golden, CO) reported a net loss of $3.4 million, or $0.39 per share, for the first quarter ended March 31, 1999, compared to a net loss of $2.3 million, or $0.29 per share, for the same period a year ago. The firm reported revenues of $81,444 for the first quarter, compared to revenues of $581,145 for the year-ago quarter. The year-ago results included $350,000 in non-cash revenues from providing services to Johnson Controls Inc. That agreement expired in the fourth quarter of 1998. Bolder predicts that their revenues will accelerate when their jump-start products are introduced in the second half of the year. Bolder is also aiming at securing high-volume commercial orders for their TMF batteries and is involved in supplying firms making alternative powerplant cars, having shipped a battery pack to a major European automaker for use in a new hybrid electric vehicle program. "We are excited to report that we have successfully test-marketed a line of unique, high-power TMF-based automotive jump-starting products," stated Chairman and CEO Daniel S. Lankford. "Our tests validate the technology and marketability of these unique products, which target a large market opportunity in view of the more than 10 million emergency roadside assistance calls per year for cars with dead batteries or electrical problems.