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Kadant Inc. (NYSE:KAI) reported that revenues from continuing operations grew 49 percent in the first quarter of 2006, to $75.6 million, compared with $50.7 million in the first quarter of 2005. Excluding a 40 percent revenue increase in the 2006 period from the company’s Kadant Johnson subsidiary and a 3 percent decrease from currency translation, revenues from continuing operations grew 12 percent. Operating income from continuing operations in the 2006 quarter was $4.8 million (including $2.1 million from Kadant Johnson), versus $2.8 million in 2005. Income from continuing operations (after-tax) was $2.8 million in 2006, or $.20 of diluted earnings per share (EPS), versus income of $3.1 million, or $.22 of diluted EPS, a year ago. “We’re off to an excellent start in 2006,” said William A. Rainville, chairman and chief executive officer of Kadant. “We saw especially strong demand for our stock-preparation technologies in China and for our Kadant Johnson fluid-handling equipment in North America, both of which contributed to record revenues in the first quarter. We are also very pleased with our first quarter bookings, which rose 73 percent over the same quarter last year to a record $104 million on the strength of these two product lines. […]
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Maxwell Technologies, Inc. (Nasdaq: MXWL)reported a net loss of $7.5 million, or $0.45 per share, on revenue of $12 million for the first quarter ended March 31, 2006. That compares with a net loss of $2.2 million or $0.14 per share, on revenue of $9.8 million for the same period in 2005. The Q1 06 loss reflects the impact of non-cash provisions totaling $5.4 million, or $0.32 per share, including $936,000 of compensation expense for stock options and restricted stock grants and charges of $904,000 for amortization and $3.5 million for a change in “fair value” of conversion features in $25 million of convertible debentures and warrants issued in December 2005. Dr. Richard Balanson, Maxwell’s president and chief executive officer said that the first four months of 2006 brought a number significant developments in the company’s evolution from an emerging research and development-oriented organization to a rapidly growing global manufacturer of ultracapacitors and other proprietary, high-value products, including: * High-volume ultracapacitor purchase orders from Enercon GmbH for wind energy systems and General Hydrogen for fuel cell-based power packs for forklifts; * Formation of an offshore ultracapacitor manufacturing alliance with Belton Technology Group in China to support future high-volume production requirements; […]
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Leading officials and representatives from more than 70 organizations and businesses gathered to demonstrate support for an aggressive “25 X ’25” renewable energy vision, March 7-9, at the second national Agricultural and Forestry Renewable Energy Summit. The goal of the Washington D.C. summit, sponsored by the 25 X ’25 Work Group with funding from the Energy Future Coalition, was to secure national support for the mission of producing 25% of total U.S. energy consumption from America’s working lands by 2025.More than 70 organizations endorsed the vision. Advocates led by the American Farm Bureau Federation, the National Rural Electric Cooperative Association and the National Association of Counties attended the summit. Other supporters represent renewable energy, agriculture, forest products, environmental, religious, labor, conservation and federal, state and local governments. A bipartison lineup of political powerhouses addressed the 150 attendees. Key speakers included former Tom Daschle, former Senate Democratic leader; Mike Johanns, Agriculture Secretary, Dan Arviszu, NREL director, James Woolsey, former CIA director, Governor Edward Rendell of Pennsylvania; Governor Mitch Daniels of Indiana; Tim Wirth, president of the UN Foundation; and US Senator Ken Salazar of Colorado.In coming months, the 25 X ’25 Work Group will work to gain endorsements from a majority […]
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With $435 billion in assets and over 23 million customers, Wells Fargo is the largest US-based bank still operating without comprehensive modern guidelines to govern its investment practices and corporate conduct on a broad range of urgent environmental and social issues. Case studies on DirtyMoney.org show how Wells Fargo supports radical extraction practices like clear-cutting forests and leveling mountaintops, often on public land for private profit, from Ecuador to Alaska to West Virginia. Despite persistent calls from citizen action groups, Wells Fargo has refused to incorporate new industry best practices on the environment, instead substituting PR and greenwash for action. While the company released a 10-point environmental plan significantly weaker than the industry’s best and riddled with loopholes, it has shown its true colors by investing millions of dollars in Massey Energy, a company currently under fire for destroying Appalachian communities with mountaintop coal removal, and funding an industry front group that is trying to open up roadless areas in Alaska’s valuable Tongass National Forest. Industry peers began to adopt environmental policies in 2003 to address the pressing issues of climate change, ecosystem preservation, and human rights violations. Citigroup, Bank of America, JPMorgan Chase, and Goldman Sachs have all become […]
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The relentless pursuit of oil continues - this time in Canada.
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Here's a more creative, common sense way to make energy (than wreaking havoc on the environment as in the article above).
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News and Events U.S. Geothermal Prepares to Build a 10-Megawatt Plant in Idaho Florida Pursues Power from Grass, While Others Pitch Manure California Sets Goals to Boost In-State Biofuels Production New Near-Zero Energy Homes Open in California and New Jersey Energy Connections Forecasters Predict an Active and Dangerous Hurricane Season News and EventsU.S. Geothermal Prepares to Build a 10-Megawatt Plant in IdahoU.S. Geothermal, Inc. told its contractor last week to proceed with the engineering, procurement, and construction of a 10-megawatt geothermal power plant in central Idaho, the first geothermal power plant in the state. The Raft River Geothermal Project will be located about 10 miles north of the Utah border and will sell its power to the Idaho Power Company. Ormat Nevada, Inc. is supplying the power plant, which will use the geothermal heat to vaporize an organic fluid. The organic vapor will spin a turbine that drives a generator to make electricity, and then the vapor will be condensed and reused, in what is called a binary cycle power plant. U.S. Geothermal is currently negotiating long-term financing for the plant and expects to have it in place by June 1st. The company plans to begin operating the power plant […]
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Investment funds backing the Principles for Responsible Investment have doubled to reach more than $4 trillion as asset owners and fund managers joined the European launch of this new initiative at the Palais Brongniart in Paris yesterday. It is expected that further funds will pledge support for the Principles, which were officially launched by United Nations Secretary-General Kofi Annan at the New York Stock Exchange on 27 April. At the Paris event, the heads of 18 major institutional investors from nine countries, represented more than $2 trillion in assets, and signed up to the Principles. They joined a group of 32 institutional asset owners representing the original $2 trillion which backed the Principles during the international launch in New York last week. The Principles were developed during a nearly year-long process convened by the UN Secretary-General and coordinated by the UN Environment Programme Finance Initiative (UNEP FI) and the UN Global Compact. Monique Barbut, Director of the UN Environment Programme explained: “The commitment embodied in the Principles and now supported by some of the world’s largest asset owners and asset managers is a clear signal to business and global capital markets. The USD 4 Trillions now backing the Principles confirm […]
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On the 20th Anniversary of the world’s largest nuclear power plant disaster, President Gorbachev, Founder and Chairman of Green Cross International, called for the leaders of the G8 – the world’s largest industrialized nations – to make stronger commitments to a truly secure and sustainable energy future by overwhelmingly investing in renewable energy and energy efficiency. In an “Energy Security” brief sent with a letter from President Gorbachev to heads of state and leaders of parliaments in the G8 nations preparing for the upcoming G8 Summit in St. Petersburg, President Gorbachev has called for strong commitments to sustainable energy and warned of the dangers of continued reliance on oil and gas and nuclear power while relegating renewable energy to secondary status. Gorbachev, Green Cross International and its American affiliate Global Green USA have urged the G8 to make significantly increased investments in renewable energy, including the creation of a $50 billion Global Solar Fund over 10 years. “This idea reflects our vision of a way of helping the energy impoverished in the developing world, while creating concentrations of solar energy in cities that could be used to prevent blackouts, and would result in lower electricity bills,” said President Gorbachev. “The […]
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Lennar Homes has formed partnership with PowerLight Corporation and Roseville Electric to build the nation’s largest solar community in California. The Sacramento division of the national builder, Lennar, operates locally as Renaissance Homes and Winncrest Homes and will integrate photovoltaic systems and upgraded energy efficiency measures into 450 new homes slated to be built in Roseville over the next two years. “Roseville has a nationwide reputation for providing an outstanding quality of life for families and this exciting partnership to create the nation’s largest solar community is another example of why Roseville is an amazing place to live,” Mayor Gina Garbolino said. Lennar’s participation in Roseville Electric’s programs shows innovation and leadership in the building industry and will serve as a model for future residential projects. Roseville Electric believes homebuyers are interested in all types of energy efficiency measures – including photovoltaic systems – as a way to reduce their utility costs and support renewable energy efforts. “Roseville Electric is dedicated to providing our residents with award-winning, reliable service and low-cost electricity. I am a strong advocate of solar energy and I support Roseville Electric’s efforts to offer green, renewable energy programs like solar that help reduce our nation’s dependence […]
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