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

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

Now, this was the ninth consecutive quarter the company has been profitable on a non-GAAP basis. And Kevin is going to provide you more financial details on all of this in a few minutes.

As noted in our press release, ultracap sales continue to be impacted by economic conditions in Europe and elsewhere. But that softness is being offset by growing demand in China driven mainly by ongoing infrastructure investments in both public transit and wind energy.

Wind turbine deployments in China continue to rebound from the government post slow down, we experience in the second half of last year. In fact, wind-related sales in the first quarter totaled more than the two previous quarter combined and increased further sequentially in Q2.

Looking ahead, China’s five-year plan calls for wind energy to account for 3% to 5% of the country’s total power generation by 2020. So we anticipate same demand for our products. Ultracapacitor sales for hybrid bus drive systems haven’t missed a beat as the Chinese central government and many regional and local governments continue to provide subsidies and policy support for hybridization of public transit vehicles to both improve fuel efficiency and to reduce urban air pollution.

We’re well aware that headlines predicting slower growth for the Chinese economy and the upcoming change in leadership raise questions about the sustainability of Maxwell sales into China. But there’s every indication that these infrastructure investments will continue to be a high priority. Information we received recently indicates that the subsidized transit bus privatization program for 25 major cities, has been so successful that the government intends to extend it to a number of additional cities.

And with the experience that they have gained through policies supported programs and their advantageous cost position versus competing OEMs in Asia, Europe, and North America, are Chinese wind and bus customers are beginning to win on substantial export business around the world.

3 of 4

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

Markets

DOW 18,091.62 -71.37 -0.39%
S&P 500 2,115.08 -8.40 -0.40%
NASDAQ 5,089.4620 -17.1310 -0.34%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs