Beacon Power 3Q Loss 18c/Share
Dow Jones Newswires
Beacon Power Corp. - Wilmington, Mass.
3rd Quar Sept. 30:
2001 2000
Net income $(7,588,410) $(4,247,082)
Avg shrs 42,739,635 123,019
Shr earns (basic/diluted)
Net income (.18) (39.38)
9 Months:
Net income (19,689,929) (9,792,715)
Avg shrs 42,479,667 43,672
Shr earns (basic/diluted)
Net income (.46) (281.57)
Figures in parentheses are losses.
Preferred-share dividends and equivalents were $597,393 in the year-earlier quarter and $2,503,903 in the year-earlier nine months.
The Thomson Financial/First Call mean estimate was for a loss of 17 cents a share in the latest quarter.
The company said it has cut 26 employees, or about 25% of its workforce, in response to the economic downturn. It said companies "have less incentive and ability to consider new, alternative energy technologies and testing cycles have clearly lengthened."
It said it is increasing its sales and marketing efforts.
Beacon Power Corp. (BCON), a development-stage company that went public in November 2000, makes flywheel energy storage systems.
Company Web Site: beaconpower.com |
