SatCon Issues Statement Regarding 2005 Year-End Results
Posted on: Thursday, 5 January 2006, 15:00 CST
SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and manufacturer of power electronics and motors for the alternative energy markets, in accordance with Nasdaq regulations, today stated that its independent auditors continued the existing "going concern" opinion in the most recently filed Form 10K. David Eisenhaure, SatCon's Chief Executive Officer issued the following statement. "We believe that our current cash of approximately $9 million will sustain our operations through fiscal 2007 and possibly beyond to a cash positive operation. "
About SatCon Technology Corporation
SatCon Technology Corporation is a developer and manufacturer of electronics and motors for the Alternative Energy, Hybrid-Electric Vehicle, Grid Support, High Reliability Electronics and Advanced Power Technology markets. 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 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 be successful in achieving any of the objectives that are stated within the release, and such failure to achieve those objectives could have a material, adverse effect on the future of the Company. 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.
Source: Business Wire
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