Energy Conversion Devices Reports Second-Quarter Results
Energy Conversion Devices Inc. (Troy, MI) announced results for the three months and six months ended December 31, 1999. According to the company, a large portion of the losses reported is due to the company's investment in programs to commercialize its various technologies that are integral to new business agreements.
For the second quarter ended December 31, 1999, the company recorded a net loss of $4,290,000 on revenues of $6,770,000, compared to a net income of $1,666,000 on revenues of $11,869,000 in the second quarter last year. For the six months ended December 31, 1999, the company recorded a net loss of $8,036,000 on revenues of $14,350,000, compared to a net loss of $3,558,000 on revenues of $18,046,000 in the same period in 1998.