SatCon Technology Corporation (NASDAQ:SATC) has traded as high as $.44 during today’s trading session and last traded at $.42 for a gain of 39.87% from yesterday’s close… SATC shares have traded as high as $3.40 over the past few days, which is 87.64% over that high at last traded stock price.
Satcon Technology, a leading provider of utility scale power conversion solutions for the renewable energy market, today provided a business update and certain preliminary unaudited financial results for its first quarter ended March 31, 2012. Get my next ALERT 100% FREE
Based on preliminary financial data and subject to the final closing of the company’s books, Satcon expects first-quarter 2012 revenue will be between $22 million and $25 million, in line with its previously announced guidance of $22 million to $28 million. Bookings for the first quarter were approximately $45 million, an increase of approximately 130% from the fourth quarter of 2011 and 27% from the first quarter of 2011. In addition, the quarter was the company’s most successful bookings period in four quarters, with a book-to-bill ratio of 1.9:1.
“The strategic measures that Satcon has implemented throughout the quarter continue to position the company for both improved financial performance and increased market share in the world’s highest growth solar markets,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “Bookings in the first quarter of 2012 demonstrate the strong demand for our industry leading solutions. We made significant progress in improving our balance sheet, reducing our working capital while paying down a significant portion of our short- and long-term debt. These actions have strengthened our cash flow position and have provided sufficient liquidity to meet our obligations and pursue our long-term growth strategy. The commercial success we have achieved in the quarter, along with the significant progress the company has made since the implementation of our strategic organizational alignment over the past six months, lay the foundation for profitable growth going forward.”
StockPreacher.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. StockPreacher.com is a wholly owned subsidiary of BlueWave Advisors. BlueWave Advisors has not been compensated, and holds no positions in any of the stocks mentioned in this article.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.