BTI REPORTS FIRST QUARTER RESULTS.TORONTO, ONTARIO--(BUSINESS WIRE)--May 9, 1995--Battery Technologies Inc. (NASDAQ/NMS:BTIOF; CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. :BTII) - developers of the Reusable Alkaline Manganese (RAM(TM)) battery system - announced today financial results for the first quarter. Revenue for the quarter increased to $3.6 million compared to $182,000 for the same period last year. The Company generated positive cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses in the amount of $64,000 this year. For the three months ended March 31, 1995, a net loss of $708,000 or two cents per common share was incurred compared to a loss of $1,202,000 or four cents per common share loss for the same period in 1994. Mr. Wayne Hartford, President and Chief Executive Officer said the company is very pleased with its progress to date. "With increasing consumer awareness and the advent of RAM batteries for Original Equipment Manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) applications, sales are expected to have a significant impact on royalty Synopsis On Royalty: A Very Polite Inquiry into Some Strangely Related Families is the attempt of Jeremy Paxman to examine and understand how the increasingly irrelevant institution that is Monarchy has managed to continue to hold to the imaginations of the public. revenue in 1995," he said. "However, we are still forecasting conservatively that it will be the end of 1996 before royalty earnings will surpass other forms of income." The BTI BTI Beverage Testing Institute BTI Boyce Thompson Institute BTI British American Tobacco (stock symbol) BTI Boston Theological Institute Bti Bacillus Thuringiensis Israelensis BTI BioTechnology Institute BTI Binding Tariff Information Group of Companies is an energy technologies research, development and licensing group that has developed the proprietary RAM (TM) battery system. To date, license agreements have been signed by companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, China, Hungary, India, Ireland, Korea and South East Asia East Asia A region of Asia coextensive with the Far East. East Asian adj. & n. for the production and sale of this new battery system. Korean licensee, Young Poong Corporation has ordered two battery lines to produce 'AA' and 'AAA' size RAM cells and expects to be in production by early 1996. RAM products can be purchased at leading retailers throughout North America under the brand name 'RENEWAL (R)' in the US and 'PURE ENERGY (TM)' in Canada. -0- Battery Technologies Inc. Financial Highlights
Three Months Ended
March 31, 1995
(000)
1995 1994
Revenue $ 3,680 $ 182 Net Loss $ 708 $ 1,202 Loss Per Share $ .02 $ .04 Average Shares Outstanding 29,700 28,300 (x) comparative figures related for consistency of presentation RAM (TM) is the registered trademark of Battery Technologies Inc. in Canada. CONTACT: Kathryn Freer 905/881-5100 or Victor Webb 212/684-6601 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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