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Interface Reports a Profit

Interface, Inc. (Nasdaq: IFSIA), a worldwide floorcoverings and fabrics company, announced profitable results for Q4 and 2005. Sales in the 2005 fourth quarter rose 12.0% to $260.6 million from $232.6 million in the year ago period. Operating income in the 2005 fourth quarter was $23.1 million, compared with operating income of $15.3 million in the fourth quarter 2004, an increase of 51.0%. As a percentage of sales, operating income improved to 8.9% in the fourth quarter of 2005 versus 6.6% in the fourth quarter of last year. “The year 2005 was very gratifying, as we built upon the momentum generated during our turnaround in 2004,” said Daniel Hendrix, CEO. “We continued to expand our leadership position in the worldwide modular market, outpacing the growth in the overall industry. While we garnered the benefit of some resurgence in our core corporate office market, we also took steps to significantly diversify our revenue base through our segmentation strategy. This was true not only in modular but also in our fabrics and broadloom businesses, each of which delivered solid improvements in both sales and profitability during the year. Importantly, we also were able to largely offset rising raw material costs through enhanced manufacturing […]

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FuelCell Energy Debuts DFC/T Hybrid Product Using Capstone MicroTurbine

FuelCell Energy, Inc. (FCEL) has announced that its patented Direct FuelCell/Turbine (DFC/T) achieved a record-setting performance — establishing a mark of 56 percent electrical efficiency in the sub-megawatt (sub-MW) class for 800 continuous hours during initial testing. This significantly exceeds the electrical efficiency of other distributed generation technologies of similar size. For example, gas engines have an electrical efficiency of 30 to 42 percent, low temperature fuel cells have an electrical efficiency of 30 to 35 percent and microturbines have an electrical efficiency of 25 to 30 percent. “The DFC/T power plant’s 56 percent electrical efficiency is unmatched anywhere in the industry for distributed generation products in its size range and has the potential for customers to substantially reduce their energy costs,” said R. Daniel Brdar, President and CEO of FuelCell Energy. “This sub-MW combined cycle system will be an ideal ultra-clean, reliable base load product for smaller commercial and industrial customers with a demand for electric power only and will complement our DFC power plants that are designed for combined heat and power applications.” FuelCell Energy has been developing the DFC/T product following an initial Vision 21 Program contract award from DOE in 2000. The DFC/T system is based […]

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Interface Reports Q4 and FY 2005 Results

Interface, Inc. (IFSIA), a floorcoverings and fabrics company, announced its results for the fourth quarter and full year ended January 1, 2006. Sales in the 2005 fourth quarter rose 12.0% to $260.6 million from $232.6 million in the year ago period. Operating income in the 2005 fourth quarter was $23.1 million, compared with operating income of $15.3 million in the fourth quarter 2004, an increase of 51.0%. As a percentage of sales, operating income improved to 8.9% in the fourth quarter of 2005 versus 6.6% in the fourth quarter of last year. Pursuant to the provisions of the American Jobs Creation Act of 2004, the Company repatriated $25.4 million of earnings from foreign subsidiaries during the fourth quarter of 2005. This action took advantage of an opportunity to repatriate the funds at a substantially reduced tax rate, provided the transaction occurred before the end of 2005. Consequently, the Company recorded a tax charge of approximately $1.8 million, or $0.03 per share, in the fourth quarter related to the repatriation. After this charge, net income for the fourth quarter 2005 was $5.7 million, or $0.11 per diluted share, compared with a net loss in the fourth quarter of 2004 of $4.4 […]

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Massachusetts Wind Turbines Gaining Power

URL: http://www.boston.com/news/local/massachusetts/articles/2006/02/24/wind_turbines_gaining_power/ Website: http://www.boston.com/news/local/massachusetts/articles/2006/02/24/wind_turbines_gaining_power/     

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