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14


nanotimes


Companies Facts


Companies – Summaries phate® A


123 Systems (NASDAQ: AONE), a developer and manufacturer of advanced Nanophos- lithium ion batteries and systems, announced


financial results for the second quarter ended June 30, 2011.


“The highlight to the second quarter was a doubling in the number of our transportation programs in production. This marked an important milestone for A123 as we shifted our focus from building capacity to ramping production,” said David Vieau, CEO of A123 Systems. “We doubled our revenue from the first quarter, due largely to the fact that we started shipping prismatic modules and packs in volume to Fisker and Smith Electric Vehicles. Overall shipments almost tripled from the first quarter, and this scale contributed to an improvement in gross margin.”


Vieau added, “We continue to anticipate that re- venue for the full year will more than double from 2010 as volumes continue to climb in the second half of the year. In conjunction, A123 will be in an increasingly strong position to drive efficiencies in our manufacturing processes and position our com- pany for profitable growth in the years ahead.”


Financial Highlights


Revenue: Total revenue for the second quarter of 2011 was $36.4 million, an increase from $22.6 mil- lion for the second quarter of 2010, and $18.1 milli- on in the first quarter of 2011. Within total revenue,


3


product revenue was $29.6 million, an increase from $15.6 million in the second quarter of 2010, and $15.5 million in the first quarter of 2011. Services revenue was $6.8 million, a decrease compared to $7.1 million the second quarter of 2010, and an in- crease from $2.6 million in the first quarter of 2011.


Gross Profit/(Loss): Gross loss was ($17.5) million in the second quarter of 2011, which included asset impairments of $2.6 million related to outdated equipment in Asia, compared to a gross loss of ($2.9) million in the second quarter of 2010, and a gross loss of ($15.5) million in the first quarter of 2011.


Net Income/(Loss): Net loss was ($55.4) million, or ($0.44) per common share, based on 124.5 million weighted average common shares outstanding in the second quarter of 2011. This compared to a net loss of ($34.2) million in the second quarter of 2010, or ($0.33) per common share, based on 104.3 million weighted average common shares outstanding, and to a net loss of ($53.6) million in the first quarter of 2011, or ($0.51) per common share, based on 105.5 million weighted average common shares outstan- ding.


http://www.a123systems.com


M(NYSE: MMM) and IBM (NYSE: IBM) an- nounced that the two companies plan to joint- ly develop the first adhesives that can be used to


11-08 :: August 2011


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