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Technology Stocks : Vanteck (vrb-cdnx, vttcf) -- Ignore unavailable to you. Want to Upgrade?

To: gg cox who wrote (235)	1/21/2006 10:00:26 AM
From: gg cox	Read Replies (1) \| Respond to of 413

cia.gov

To: gg cox who wrote (235)	2/1/2006 6:16:59 PM
From: gg cox	Read Replies (1) \| Respond to of 413

UPDATE 1-RailPower shares shunted lower on cost warning Wed Feb 1, 2006 3:59 PM ET (Adds details on technological problem) TORONTO, Feb 1 (Reuters) - Shares of RailPower Technologies Corp. (P.TO: Quote, Profile, Research) tumbled as much as 40 percent on Wednesday after the company warned its fourth-quarter results will include a C$23 million to C$28 million provision due to higher development costs for its hybrid locomotives. FACT BOX P.TO (Railpower Technologies Corp) Last: $4.20 Change: -1.55 Up/Down: -26.96% FebMayAugNov Quote Full Chart Company Profile Analyst Research News for P.TO UPDATE 1-RailPower shares shunted lower on cost warning RailPower shares sink 40 percent on provision Shares of the Vancouver-based company plunged almost 40 percent on the Toronto Stock Exchange, before climbing back to C$4.10, down C$1.65, for a loss of just under 30 percent on a volume of 4.7 million shares. That is about ten times the average volume for the past six months. The company said late on Tuesday it is experiencing serious delays and higher costs in the development of its third generation of Green Goat hybrid locomotives. "Dedication to our customers and the long-term interests of our shareholders compel us to continue production despite higher than expected costs for these locomotives," President and Chief Executive Jose Mathieu said in a statement. RailPower's hybrid locomotives, which use a small diesel-powered generator and batteries, are significantly quieter than traditional diesel locomotives and produce less pollutants. The company told analysts some of the locomotives that are used to switch cars in freight yards were getting heavier use than designers anticipated, leading to potential reduction of battery life. The company said it delivered 28 of them in 2005 and has orders for 67 more units. Switching locomotives that are getting heavier use than expected will be refitted with bigger generators to protect the batteries. RailPower said the problem did not affect locomotives it was also designing for use on branch lines because they already have larger generators. The company said the battery life issue was unrelated to fires in two locomotives being tested in the United States. Those fires were traced to a defective component that was now being replaced. RailPower expects to post fourth quarter results in mid-March. ($1=$1.14 Canadian) yahoo.reuters.com