Needham analyst Michael Lew notes that while there is no guarantee Valence (VLNC) will find a favorable resolution for its intellectual property disputes, and no guarantee it can lower costs and expenses to make its products more affordable or stay competitive amongst peers with larger assets, he sees "accelerated" market adoption of the company's products due to its reliable technology.
Fleets, including those of transit buses -- one Valence customer group -- require reliable technology to deliver "on time" services, Lew pointed out. MDB Capital analyst Jon Hickman tells clients that though Valence's fiscal 2010 revenue of $16.1 million was lower than he had expected, he's encouraged by the company's recent order trends and management's comments about its large and growing backlog of orders. He also notes the expansion of Valence's patent portfolio to more than 420 U.S. and international grants and patent applications in fiscal 2010.
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