DCH Technology Issues Second-Quarter Earnings Results

DCH Technology Inc. (DCHT, Valencia, CA) issued its progress report to shareholders along with second-quarter earnings for the period ended June 30, 2000. Revenues reported for the second quarter of 2000 were $265,756, compared with $50,551 for the same period 1999, an increase of 426 percent. Revenues for the first six months of 2000 were $576,431, compared to $216,773 for the same period in 1999, an increase of 166 percent. Net loss for the quarter totaled $1,708,115, or $0.7 per share, compared to a net loss of $853,980 or $0.06 per share in the same quarter of 1999. "We are extraordinarily pleased with the strong and increasing interest we are generating in the hydrogen-based energy market and, even more so, with its investors," said DCHT COO David Walker. "We are currently shipping our unique hydrogen-detection devices, as well as building backlog, and have several stationary and portable fuel cell units placed with potential large-scale customers for test and evaluation."According to Walker, the momentum established in the second quarter has continued into the third. "We just received an order from still another automotive manufacturer to provide sensors for fuel cells on hydrogen-fueled automobiles. This makes five different automotive companies that have ordered or committed to using DCHT sensors for testing in their vehicles. Looking forward, we are confident in our ability to manufacture hydrogen sensors in the quantities that will be required for this application. We continue to invest strategically at appropriate levels in our vision to be the next thought after hydrogen in the world's energy markets," said Walker.