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Superconductor Technologies Inc. Announces
Preliminary Fourth Quarter and Full Year Revenues
Santa Barbara, CA, Jan. 9: Superconductor Technologies Inc. (NASDAQ:SCON)
("STI"), a leading provider of high performance infrastructure products for
wireless voice and data applications, today announced its preliminary revenue
for the fourth quarter and year ended December 31, 2005.
STI expects net revenues for the fourth quarter to be approximately $7.4
million, nearly a 90 percent revenue increase over the $3.9 million recognized
for both the third quarter of 2005 and fourth quarter of 2004. Net commercial
product revenues for the fourth quarter of 2005 are estimated to be
approximately $6.7 million, a 119 percent increase over the $3.1 million in the
third quarter of 2005 and a 123 percent increase over the $3.0 million in the
fourth quarter of 2004.
STI expects net revenues for the full year ended December 31, 2005 to be
approximately $24.2 million, as compared to $23 million in the prior year. Net
commercial product revenues for the full year are estimated to be approximately
$21.1 million, a 26 percent increase over the prior year's commercial product
revenue of $16.8 million.
"As we indicated on our third quarter results call in November, demand for our
products in the fourth quarter outpaced that of the prior quarter," said Jeff
Quiram, president and chief executive officer of Superconductor Technologies
Inc. "Our fourth quarter revenue shows a significant sequential increase, driven
primarily by the continued successful execution of our two pronged growth
strategy of expanding our product portfolio and diversifying our customer base.
In fact, in the fourth quarter we secured another major North American wireless
carrier as a new 10 percent customer for STI. Fourth quarter results also
reflect revenue from new products developed by our rapid prototyping initiative
that continues to create custom solutions quickly in response to our customers'
pressing network quality improvement challenges."
STI expects to announce final fourth quarter and year-end results in early
March, at which time the company will hold an earnings conference call.
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