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Superconductor Technologies
Inc. Announces Preliminary Second Quarter Revenues of $8.5 Million
Santa Barbara, Calif., July
7: 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 second quarter of 2005, which ended July 2.
STI expects net revenues for
the second quarter to be approximately $8.5 million, compared to $4.4 million in
the first quarter of 2005 and $6.3 million in the second quarter of 2004. Net
commercial product revenues for the second quarter of 2005 are estimated to be
approximately $7.6 million, a 100 percent increase as compared to $3.8 million
in the first quarter of 2005 and a 65 percent increase as compared to $4.6
million in the second quarter of 2004.
"I am very encouraged by the
significant sequential increase in revenue over the first quarter. STI is
continuing to gain market acceptance for our solutions, especially in the next
generation network deployments," stated Jeff Quiram, president and chief
executive officer of Superconductor Technologies Inc. "We have strengthened our
sales team to better position STI as an exceptional business partner. We are
proud of our progress selling additional solutions to our existing customers and
diversifying our customer base. The cumulative effect of these measures is
expected to have a continuing positive impact on our business for the second
half of 2005 and into 2006."
STI expects to announce
final second quarter results in early August, at which time the company will
hold a conference call with investors.
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