This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Superconductor Technologies Inc. Reports Second Quarter 2010 Results

SANTA BARBARA, Calif., Aug. 3, 2010 (GLOBE NEWSWIRE) -- Superconductor Technologies Inc. (Nasdaq:SCON) ("STI"), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, reported results for the second quarter and six months ended July 3, 2010.

Total net revenues for the second quarter were $2.4 million compared to $3.4 million in the first quarter of 2010 and $2.6 million in the year ago second quarter. Net commercial product revenues for the second quarter of 2010 were $1.7 million, compared to $2.3 million in the first quarter of 2010 and $1.8 million in the second quarter of 2009. Government and other contract revenue totaled $631,000 during the 2010 second quarter, compared to $1.1 million in the first quarter of 2010 and $854,000 in the year ago period.

Jeff Quiram, STI's president and chief executive officer, said, "During the second quarter, our wireless customers continued to invest in performance improvement projects for their existing networks that provided demand for our core products. As expected, government revenues declined as the SURF 2 program nears completion."

"STI's SuperLink ® solution has been integrated into a state-of-the-art OEM long term evolution (LTE) base station. Our OEM partner was selected by a major carrier for live market trials currently planned for this year. We continue to believe there is significant opportunity to include our HTS filters in the LTE networks of the top U.S. wireless carriers when deployment begins in earnest."

"Our 2G HTS wire program for emerging power applications remains on schedule. Building on our success in producing wire in one meter lengths, we are on track to complete the design of our wire deposition machine to produce 50 meter lengths by the end of this year. We are focusing our efforts on three HTS wire designs to address the unique performance requirements for large wind turbine, AC power cable and fault current limiter applications. We expect to begin delivering samples of our wire for testing by our prospective customers before year end," Quiram concluded.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
SCON $1.18 0.00%
AAPL $122.99 0.00%
FB $96.99 0.00%
GOOG $631.93 0.00%
TSLA $263.82 0.00%

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs