SatCon Electronics Announces over $3.0 Million in New Contracts; SatCon's Electronics Division Quarter-End Order Backlog Reaches 2 Year High.Business Editors/High-Tech Writers CAMBRIDGE Cambridge, city, Canada Cambridge (kām`brĭj), city (1991 pop. 92,772), S Ont., Canada, on the Grand River, NW of Hamilton. It was formed in 1973 with the amalgamation of Galt, Hespeler, and Preston, all founded in the early 19th cent. , Mass.--(BUSINESS WIRE)--April 1, 2004 SatCon Technology Corporation(R) (Nasdaq NM: SATC SATC Sex and the City (HBO series) SATC Software Assurance Technology Center (NASA) SATC Sexual Assault Treatment Center (Broward County, Florida) ), a manufacturer of electronic power control systems, today announced that its Electronics division received new contracts in excess of $3.0 million during this past quarter. Currently, the division's backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. is approximately $5 million, the highest it has been at quarter-end in the two years. Included in this total was $640,000 of orders for system level assemblies used in military satellite communications mobile base stations. This order reinforces the Electronics division acceptance as a major supplier of these RF (Radio Frequency) communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. . This assembly is an example of the Electronics division strategy to expand from hybrid assemblies to system level solutions. "The Electronics division earned these orders by working with the customer to improve the quality of the total RF electronics system," said David Eisenhaure, SatCon president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This further advances our vision of becoming the component supplier and integrator (1) In electronics, a device that combines an input with a variable, such as time, and provides an analog output; for example, a watt-hour meter. (2) See systems integrator. of the electronics systems we deliver to our customers. The balance of the orders received this quarter also indicates a continued growth in our standard high-reliability electronics products." "While our defense business still accounts for a majority of the Electronics division contracts, we are beginning to see new customers and new business in the commercial electronics market and a recovery in business from the telecom market," concluded Eisenhaure. About SatCon Technology Corporation SatCon Technology Corporation manufactures and sells power control systems for critical military systems, alternative energy and high-reliability industrial automation applications. Products include inverter (1) A logic gate that converts the input to the opposite state for output. If the input is true, the output is false, and vice versa. An inverter performs the Boolean logic NOT operation. (2) A circuit that converts DC current into AC current. Contrast with rectifier. electronics from 5 kilowatts to 5 megawatts, power switches, and hybrid microcircuits An electronic circuit composed of different types of integrated circuits and discrete components, mounted on a ceramic base. Used in military and communications applications, it is especially suited for building custom analog circuits including A/D and D/A converters, amplifiers and for industrial, medical, military and aerospace applications. SatCon also develops and builds digital power electronics, high-efficiency machines and control systems for a variety of defense applications with the strategy of transitioning those technologies into multiyear production programs. For further information, please visit the SatCon website at www.satcon.com. Statements made in this document that are not historical facts or which apply prospectively are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the Company's expectation. There can be no assurance that the company will continue to maintain this level of new orders or that it can successfully deliver the components and systems ordered. Additional information concerning risk factors is contained from time to time in the Company's SEC filings. The Company expressly disclaims any obligation to update the information contained in this release. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion