Superconductive Components Reports Second Quarter Results
August 29, 2001
Superconductive Components, Inc. recently reported that its net revenues increased 28.7% for the three months ended June 30, 2001. Second quarter 2001 net income was $6,586 versus a net loss of $32,460 a year ago. Net income per diluted share was $0.00 for second quarter 2001 compared with a net loss of $0.05 last year. Weighted average shares outstanding were 30.4% higher than the prior year due to a private sale of common equity and conversion of debt to equity during the second half of 2000. The second quarter 2000 results have been restated to reflect a change in accounting for Series A and B preferred stock and debt forgiveness of subordinated notes payable.
Additional information is available at http://www.superconductivecomp.com.