Valence Technology Inc. (Austin, TX) reported results for the 12-month and three-month periods ended March 31, 2005. For the 12 months ended March 31, 2005, Valence reported revenue of $10.7 million versus $9.5 million for the 12-month period ended March 31, 2004. This represents an increase of 13% and the highest annual revenue in the company's history.
The company reported a net loss available to common stockholders for fiscal year 2005 of $32.2 million, or $0.40 per basic and diluted share, compared with a net loss available to common stockholders of $56.1 million, or $0.77 per basic and diluted share, in fiscal year 2004. Revenue for the fiscal 2005 fourth quarter was $2.4 million, down 15% versus revenue of $2.8 million reported during the same three-month period a year ago.
The company reported a net loss available to common stockholders during the fourth fiscal quarter 2005 of $9.2 million, or $0.11 per basic and diluted share, versus a net loss of $9.3 million, or $0.12 per basic and diluted share, in the fourth quarter of fiscal 2004.
