This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Valence Technology Reports Fiscal Fourth Quarter And Full Year 2011 Financial Results And Business Highlights

Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S.-based developer and manufacturer of advanced energy storage solutions today reported financial results for its fiscal fourth quarter and fiscal year ended March 31, 2011.

Highlights – Fiscal 2011 Compared to Fiscal 2010:

  • Revenue increased 185% to $45.9 million, compared to $16.1 million in FY 2010.
  • Gross Margin increased to 21%, up from 12%.
  • Operating loss narrowed to $9.0 million, compared to a loss of $17.8 million.
  • Net loss available to common shareholders narrowed to $12.9 million, or $0.09. per share, compared to a loss of $23.2 million, or $0.18 per share.

Highlights – Fiscal Fourth Quarter 2011 Compared to Fiscal Fourth Quarter 2010:

  • Revenue was $13.9 million compared to $3.9 million.
  • Gross margin improved to 21% compared to 12%.
  • Operating expenses were $4.4 million compared to $4.6 million.
  • Operating loss narrowed to $1.5 million compared to a loss of $4.2 million.
  • Net loss available to common shareholders was $2.5 million, or $0.01 per share, compared to a loss of $5.1 million, or $0.04 per share.

As expected, fourth quarter fiscal 2011 revenue increased compared to the same period last year, due to higher sales to existing and new customers. Total operating expenses decreased in the 2011 fiscal fourth quarter by $200,000, primarily due to lower general and administrative expenses.

Executive Commentary

"We are obviously pleased with our revenue growth. Looking to the future, it is very important to note that with years of 'product on-the-road' and other experience we continued to improve our business fundamentals and follow our common sense business plan," said Robert L. Kanode, president and chief executive officer of Valence Technology. "We believe our lithium phosphate technology and strong patent portfolio are increasingly being viewed as a viable product combination in numerous applications. Simply stated, we are approaching the market with a wide variety of products and services, coupled with the flexibility we need to service numerous worldwide customers in various markets.”

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs