Proton Energy Systems Announces Second-Quarter ResultsAugust 13, 2001 by Jeff Shepard
Proton Energy Systems Inc. (Rocky Hill, CT) announced results for its second quarter ended June 30, 2001. Revenues for the second quarter ended June 30, 2001, were $555,000 compared to revenues of $131,000 for the same period last year. Net loss attributable to common shareholders for the second quarter was $1,171,000, or $0.04 per share compared, to $51,914,000, or $27.25 per share, for the same quarter last year.
Revenues for the first half of 2001 were $794,000 compared to revenues of $187,000 for the same period last year. Net loss attributable to common shareholders for the first half of 2001 was $1,435,000, or $0.04 per share, compared to $53,384,000, or $28.07 per share, for the first six months of 2000.
"We are making solid progress in the execution of our business plan, which targets practical and high-value applications for proton-exchange membrane technology. We are producing and delivering fully functional hydrogen generators that provide compelling cost savings and other benefits to our customers. We believe that our current business sets the stage for products in development that address even larger energy markets needs," said Walter Schroeder, president and CEO of Proton Energy Systems.