Millennium Cell Announces Fourth-Quarter 2001 Results
Millennium Cell Inc. (Eatontown, NJ) announced an adjusted net loss of $3.5 million, or $0.13 per share (adjusted for non-cash charges), for the quarter ended December 31, 2001. This compares to $3.5 million, or $0.13 per share (adjusted for non-cash charges), for the quarter ended September 30, 2001. The actual net loss for the quarter ended December 31, 2001, was $0.17 per share. The adjusted net loss for the fourth quarter of 2000 was $0.8 per share.
“Millennium Cell ended a year of significant progress with high-impact fourth-quarter announcements,” said Stephen Tang, Millennium Cell president and CEO. “The validation of our Hydrogen-on-Demand technology by its integration into the DaimlerChrysler Town and Country Natrium mini-van was an important milestone. We are now positioned to leverage the success of 2001 into the new year.”