Crossy...yes...annual...here is 9mo...i have highly speculative hopes (GGG) for SCCI:
(COMTEX) B: SUPERCONDUCTIVE COMPONENTS INC - Improved Third Quarter Resu
B: SUPERCONDUCTIVE COMPONENTS INC - Improved Third Quarter Results
Vancouver, BC, Nov 19, 2001 (Market News Publishing via COMTEX) --
Superconductive Components, Inc., a manufacturer of advanced ceramics, optical
materials, and high temperature superconductive and non-superconductive
products, reported income applicable to common shares of $22,407 for the three
months ended September 30, 2001 versus a net loss of $54,522 for the same period
last year.
Net income per diluted common share was $0.01 for third quarter 2001 versus a
net loss of $0.04 a year ago. Weighted average shares outstanding were 33.7%
higher for the quarter compared to prior year due to a private sale of common
equity and conversion of debt to equity during the second half of 2000.
Income applicable to common shares improved to $123,048 for the first nine
months of 2001, or $0.07 per diluted share, versus a net loss of $193,742, or
$0.14 per diluted share, the prior year.
Revenues rose 12.2% to $891,813 for third quarter 2001 from $794,677 a year ago.
A 20.7% increase in product sales was partially offset by lower contract
research revenue for the quarter. Revenues for the 2001 year-to-date period
improved 24.5% to $2,857,064 from $2,294,392 in 2000. Product sales benefited
from increased shipments to an expanding customer base and higher tantalum
sales, which were partially offset by a 17.1% decline in contract research
revenues versus last year.
Gross margin rose to $336,194, or 37.7% of revenue, for the three months ended
September 30, 2001 versus $185,860 or 23.4% of total revenue a year ago. The
increase in gross margin benefited from higher sales, a more favorable product
mix, and improved utilization of production capacity. Gross margin for the first
nine months of 2001 was $1,005,350, or 35.2% of revenues, compared with
$487,542, or 21.2% of revenues, in 2000.
General and administrative expenses increased to $244,708 and $652,320,
respectively, for the three months and nine months ended September 30, 2001,
versus $128,807 and $352,018 for the same periods last year. These increases are
attributable to staff additions and expenses related to the Company's listing on
the Nasdaq Over the Counter Bulletin Board, which became effective in September
2001. Sales and promotional expenses were $52,249 for the third quarter versus
$86,896 a year ago, and totaled $178,344 for the 2001 year-to- date period
compared with $219,131 last year.
Superconductive Components, Inc. manufactures advanced ceramics such as
superconductors, ferroelectric and optical materials for use in wire, cable,
sensors, batteries, wireless and fiber optics systems. The Target Materials,
Inc. Division of the Company manufactures thin film materials for photovoltaics,
flat panel displays, electronic switches, hardness and decorative coatings. The
Company is a global materials supplier with clients in more than 40 countries.
Additional information is available at superconductivecomp.com .
SUPERCONDUCTIVE COMPONENTS, INC.
Condensed Consolidated Statements of Operations
Three Months Ended Nine Months Ended
September 30, September 30,
2001 2000 2001 2000
Revenues $891,813 $794,677 $2,857,064 $2,294,392
Gross margin 336,194 185,860 1,005,350 487,542
General and
administrative
expenses 244,708 128,807 652,320 352,018
Sales and promotional
expenses 52,249 86,896 178,344 219,131
Income (loss) from
operations 39,237 (29,843) 174,686 (83,607)
Net income (loss) 35,648 (50,576) 160,866 (132,269)
Income (loss)
applicable to
common shares $ 22,407 $ (54,522) $123,048 $ (193,742)
Net income (loss)
per share-basic
and diluted $0.01 $(0.04) $0.07 $(0.14)
Weighted average
shares outstanding:
Basic and diluted 1,821,926 1,363,050 1,820,618 1,361,879
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(C) 2001 Market News Publishing Inc.
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KEYWORD: Vancouver, BC
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