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Maxwell Technologies' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Electronic copies of these filings may be accessed by visiting the investor section of our website, or via the SEC’s website. Printed copies may be obtained by contacting the company. We encourage all investors to read these reports and our other SEC filings.

Some of you are listening are listening via the internet and an archived replay of the call will be available online at our website. All information in today’s call is as of August 2nd, 2012. The company undertakes no duty to update our forward-looking statements to conform the statements to actual results or changes in the company’s expectation.

It’s now my pleasure to introduce Maxwell’s President and CEO, David Schramm.

David Schramm

Very good, Mike, and thank you. Good afternoon, everybody.

We’re pleased to report that Maxwell recorded total revenue of $40.9 million of the second quarter into June 30th, 2012. Well, that’s 12% sequentially from the first quarter and up 6% from the same quarter a year ago.

Ultracapacitor sales totaled $24.2 million, up 10% sequentially from the first quarter, but down slightly from the second quarter of 2011 due mainly to continuing soft demand in Europe. Second quarter sales of microelectronics and high voltage capacitor products came in at $16.7 million, down a bit from the unusually high sales posted in the first quarter, but up 19% from last year’s second quarter.

A particular note is that despite the challenging global economic environment, a favorable revenue mix and careful expense control enable the company to post net income of $2.7 million or $0.09 per share for the quarter. That compares with the loss of $0.04 per share in the same period last year. On a non-GAAP basis, net profit for Q2 was $3.5 million or $0.12 per share compared with $0.06 per share in Q2 last year.

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