Proton Energy Announces Third-Quarter ResultsNovember 12, 2001 by Jeff Shepard
Proton Energy Systems Inc. (Rocky Hill, CT) announced results for the third-quarter of 2001. Revenues for the third quarter ended September 30, 2001, were $364,000 compared to revenues of $350,000 for the same period last year. Net loss attributable to common shareholders for the third quarter was $1,567,000, or $0.05 per share, compared to $2,275,000, or $1.18 per share, for the same quarter last year.
Revenues for the first nine months of 2001 were $1,158,000 compared to revenues of $537,000 for the same period last year. Net loss attributable to common shareholders for the first nine months of 2001 was $3,002,000, or $0.09 per share, compared to $55,659,000, or $29.16 per share, for the first nine months of 2000.
President and CEO Walter "Chip" Schroeder noted, "Our accomplishments year-to-date have greatly strengthened Proton's foundation. We have advanced our technology, refined our products and processes as we continue to manufacture products, and confirmed customer acceptance through selective selling efforts. We are now positioned for aggressive pursuit of commercial opportunities in 2002."