SatCon Technology Corp. (Cambridge, MA), a leader in power and energy management, reported financial results for its fiscal 2004 second quarter, which ended on March 27, 2004. Revenue for the three months ended March 27, 2004, was $8.2 million as compared to $5.4 million for the same period last year.
In addition, the operating loss for the second quarter was $1.1 million compared to an operating loss of $11.5 million for the same period last year. For the six months ended March 27, 2004, revenue was $16.3 million compared with $12.1 million for 2003, a 36-percent increase. Operating loss was $1.8 million for the six months ended March 27, 2004, compared to $16.7 million for the same period last year.
"We are again pleased that our second-quarter results showed the results of cost-reduction improvements," said David Eisenhaure, SatCon's president and CEO. "For the year, we have shown a significant increase in revenue growth of 36 percent coupled with a 37-percent decrease in operating expenses. We think this positions us for continued growth and improvement."
