For more information on the risk factors that could cause actual results to differ from these forward-looking statements, please refer to Active Power’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2010 and its current reports on Form 8-K filed since then.
Active Power assumes no obligation to update forward-looking statements or information, which are in effect as of their respective dates. I’d like to remind everyone that this call will be available for replay via Active Power’s website at www.activepower.com.
I would now like to turn the call over to the Interim President and Chief Executive Officer of Active Power, Mr. Jan Lindelow. Sir, please go ahead.
Jan H. LindelowThank you. Good afternoon and thank you for joining us today. A moment ago, we issued a press release announcing our fourth quarter and full year results for 2011. Before we discuss these results, I will share some observations of the business in the market and why I’m optimistic about 2012. Active Power has a passionate executive team and a dedicated employee base that demonstrates whatever it takes out to meet customer needs and to propel the business forward. In 2011, we saw a global demand for our products and solutions as evidenced by the revenue increases we recorded across all regions and all channels, particularly our IT channels. We see this momentum continuing in 2012, having already received orders from more than a 140 flywheels for delivery this year. This is very positive for our UPS business. We can contribute much of this demand to the growth we are seeing in the data center and power infrastructure markets, which makes me optimistic for the foreseeable future. The inherent benefits of our products and solutions continued to resonate with clients. Most also agreed that energy is the fastest growing cost in the data center, including Gartner, who forecasted energy cost would be more than 20% of all data center expenses in five years compared to 12% at present.