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Baldor Reports Q4, YTD 2005 Results: Earnings Rise

Baldor Electric Company (NYSE: BEZ) which designs, and manufactures industrial electric motors, drives, and generators, announced results of the fourth quarter and year 2005. John McFarland, Chairman and CEO, said, “We are pleased to announce record sales for 2005 of $721.6 million, an 11% increase. Earnings were up 23%, and earnings per share increased 22% to $1.28. “Fourth quarter sales were $182.7 million, an increase of 12%. During the quarter, net earnings and earnings per share were up 26%. Earnings per share increased to $0.39. In the fourth quarter 2005, there were adjustments that increased net earnings by $0.05 per share, compared to the fourth quarter 2004 adjustment that increased net earnings by $0.06 per share.” McFarland also said, “Our customers and our sales force are upbeat about 2006. We are encouraged by the strong sales increases we are having in large motors (60-1500 horsepower) and in Super E high-efficiency motors across the product range. We believe our strategy to gain market share in these two products is working. The big increase in electricity costs make our Super E motors the best value for industrial users.”

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UQM's Loss Grows

UQM TECHNOLOGIES, INC. (Amex: UQM), a developer of alternative energy technologies, reported a third-quarter loss of $518,064 (2 cents per share) on revenue of $1.1 million, as compared with a loss of $392,980, (2 cents per share), on revenue of $1.3 million for the year-ago quarter. Continuing operations for the nine months ended December 31, 2005 resulted in a loss of $1,799,918 or $0.08 per common share on total revenue of $3,181,361 versus a loss from continuing operations of $1,443,354 or $0.07 per common share on total revenue of $3,226,056 last fiscal year. “Operating results for the quarter and nine months ended December 31, 2005 reflect the impact of additional investment in establishing a production engineering group. Production engineering expenditures rose to $224,792 and $564,358 for the quarter and nine months versus $93,479 for each comparable period last fiscal year,” said William G. Rankin, President and Chief Executive Officer of UQM Technologies, Inc. “This investment is beginning to bear fruit, evidenced by an initial order for 10,000 motors we received from a new customer in November 2005 that will begin to generate revenue in February 2006 and by numerous additional opportunities identified by our recently hired National Sales Manager, Doug […]

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ClearEdge Power Closes $2M Equity Financing

Applied Ventures, LLC, a subsidiary of Applied Materials, Inc. has closed a $2 million investment in ClearEdge Power, Inc. a Hillsboro, Oregon manufacturer of silicon-based, stationary fuel cells. The financing complements a joint development agreement under which Applied Materials will provide support to ClearEdge Power on several projects. Applied Ventures’ charter is to make strategic, seed and early stage investments in promising, privately-held companies with a focus on technology innovations that could drive growth in existing, related and new markets for Applied Materials. J. Christopher Moran, vice president and general manager, Applied Ventures, stated that “through this collaboration with ClearEdge Power, Applied brings knowledge about leading-edge nanomanufacturing and process technology to the fuel cell space.” “We’re excited to have Applied Materials as a strategic partner in our quest to commercialize reliable, low-cost stationary fuel cell generators using semiconductor manufacturing processes,” said Gregg Semler, president and CEO of ClearEdge Power. “Our goal is to bring significant innovation to the fuel cell industry that results in cost effective on-site generation of clean, reliable energy.” ClearEdge Power is manufacturing cutting edge fuel cell systems for back-up and continuous power markets by developing and commercializing innovative, low-cost fuel cells that draw on their expertise […]

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Green Building, Renewable Energy Degree Programs Debut

The New York State Education Department and the State University of New York (SUNY) have approved a new four-year Renewable and Alternative Energy Applications program starting in the Fall 2006 semester at SUNY Canton. “The Alternative and Renewable Energy Applications program fits with our role of providing bachelor’s degree opportunities in high-need specialized areas,” said Brown. “This SUNY Canton program is on the cutting edge of energy technology. Students will be studying concepts that will augment or replace conventional energy systems.” The program will focus on wind, solar, geothermal, fuel cell, biofuel and other emerging technologies. “Students who graduate from this program will ultimately work with architects and engineers to create viable renewable energy solutions for commercial and residential facilities,” said Canino School of Engineering Technology Assistant Professor Michael Newtown. “They will be looking at all different forms of energy and combining them to come up with sustainable solutions.” Students in the program will also take classes such as Engineering Technology, Mechanical Engineering Technology, and Machine Design, in conjunction with newly designed alternative energy classes during their first two years. During the last two years, students will specialize in their chosen fields of solar, wind, geothermal, and biofuel energy courses. […]

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Two New Alternative Energy Indexes Launch

Cronus Capital Markets (CCM) and the International Securities Exchange have jointly developed the alternative energy industry equity index, the ISE-CCM Alternative Energy Index. It began trading January 10, 2006, under the symbol POW on the ISE. The index provides investors exposure to companies involved in solar, wind, geothermal, hydrogen/fuel cells, hydropower, and nuclear fusion.CCM is a leading research and consulting firm for the alternative energy sector and ISE is the largest equity options exchange in the world. Michael Soni, CCM’s CEO, believes the index is a necessary development for the still nascent sector. “As a result of the ISE-CCM Alternative Energy Index, the alternative energy sector can now officially be considered a sector within the capital markets. Investors will have a direct avenue in which to track and participate in the growth of this new and important sector. Furthermore, investors will be able to hedge their portfolios against the risk of rising fossil fuel prices in a manner never before available.” ISE, the world’s largest equity options exchange, was founded on the principle that technology fosters and infuses new efficiencies and operational innovations into securities trading. After developing an innovative market structure that integrated auction market principles into an advanced […]

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2005 Was Warmest Year on Record

URL: http://www.planetark.com/dailynewsstory.cfm/newsid/34662/story.htm Website: http://www.planetark.com/dailynewsstory.cfm/newsid/34662/story.htm     

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