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Hoku Reports 1Q 2007 Results

Hoku Scientific, Inc. (NASDAQ:HOKU) has announced its financial results for its first quarter ended June 30, 2006. Revenue for the quarter ended June 30, 2006 was $1.2 million compared to $1.1 million for the quarter ended June 30, 2005. Total deferred revenue was $3.1 million at June 30, 2006 compared to $4.0 million at March 31, 2006. As of June 30, 2006, deferred revenue was primarily attributable to contracts with the U.S. Navy of $2.4 million and Nissan of $756,000. As of March 31, 2006, deferred revenue was primarily attributable to contracts with Nissan of $1.7 million, and the U.S. Navy of $2.1 million, a portion of which was recognized in the quarter ended June 30, 2006. The deferred revenue is not due to a back log of orders rather it is a result of customer prepayments and the Company’s revenue recognition policy. Net income, computed in accordance with U.S. generally accepted accounting principles, or GAAP, for the quarter ended June 30, 2006 was $313,000, or $0.02 per diluted share, compared to GAAP net income of $341,000, or $0.03 per diluted share, for the quarter ended June 30, 2005. Non-GAAP net income for the quarter ended June 30, 2006 was […]

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American Superconductor Announces Major Breakthrough

American Superconductor Corporation (NASDAQ:AMSC) has achieved commercial levels of electric current for the first time in long lengths of second generation (2G) high temperature superconductor (HTS) wire. This is the first time commercial levels of electrical current have been successfully achieved in long lengths (over 300 feet) by a low cost industrial process, making possible the emergence of this technology from the laboratory into the marketplace. HTS wires conduct large quantities of electricity with 100% efficiency when cooled with environmentally friendly liquid nitrogen, the coolant of choice for superconductor electric power transmission and distribution cables. “This is a major breakthrough in electricity. It is the first-ever, commercial grade 2G wire that has been produced by a high volume, low-cost, scalable industrial process. I expect that this achievement will have a significant impact on the future of power grids worldwide,” said Greg Yurek, CEO, American Superconductor. “I believe this breakthrough will do for the electrical grid what optical fibers did for telecommunications. The emergence of optical fibers had a tremendous ripple effect on areas well beyond telecom, and I believe that HTS wire will produce similar results. Our ultra-thin wires – only the thickness of two human hairs – have the […]

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Earth Biofuels Announces $52.2M Private Offering

Hoku Scientific, Inc. (NASDAQ:HOKU) has announced its financial results for its first quarter ended June 30, 2006. Revenue for the quarter ended June 30, 2006 was $1.2 million compared to $1.1 million for the quarter ended June 30, 2005. Total deferred revenue was $3.1 million at June 30, 2006 compared to $4.0 million at March 31, 2006. As of June 30, 2006, deferred revenue was primarily attributable to contracts with the U.S. Navy of $2.4 million and Nissan of $756,000. As of March 31, 2006, deferred revenue was primarily attributable to contracts with Nissan of $1.7 million, and the U.S. Navy of $2.1 million, a portion of which was recognized in the quarter ended June 30, 2006. The deferred revenue is not due to a back log of orders rather it is a result of customer prepayments and the Company’s revenue recognition policy. Net income, computed in accordance with U.S. generally accepted accounting principles, or GAAP, for the quarter ended June 30, 2006 was $313,000, or $0.02 per diluted share, compared to GAAP net income of $341,000, or $0.03 per diluted share, for the quarter ended June 30, 2005. Non-GAAP net income for the quarter ended June 30, 2006 was […]

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