Superconductive Components Announces First Quarter Results
May 23, 2001
Superconductive Components, Inc. recently announced record net income of $118,650 for first quarter 2001 versus a net loss of $49,233 for the same period last year. Net income per diluted share applicable to common stock was $0.06 versus a net loss of $0.06 in first quarter 2000. Weighted average shares outstanding were 41.5% higher than a year ago as a result of a private sale of common equity and conversion of debt to equity during the second half of 2000. Revenues improved 33.1% to $1,060,180 for first quarter 2001 versus $796,346 the prior year. The increase in revenues resulted from improved product sales, $172,000 of tantalum sales, and $48,000 of scrap sales. In addition, the company was awarded a Phase I SBIR grant from the National Science Foundation in January 2001, and $50,000 of the grant is included in first quarter 2001 revenues.
Additional information is available at http://www.superconductivecomp.com.