Beacon Power Announces Second Quarter 2008 Results

TYNGSBORO, Mass., Aug 11, 2008 (BUSINESS WIRE) -- Beacon Power Corporation (NASDAQ: BCON), a company that designs and develops advanced products and services to support more stable, reliable and efficient electricity grid operation, announced its financial results for the second quarter ended June 30, 2008.

For the second quarter of 2008, Beacon Power reported revenue of $28,000 and a net loss of $5,432,000, or ($0.06) per share, compared to revenue of $449,000 and a net loss of $3,066,000, or ($0.04) per share, in the second quarter of 2007. For the six months ended June 30, 2008, the Company reported revenue of $48,000 and a net loss of $10,719,000, or ($0.12) per share, compared to revenue of $842,000 and a net loss of $6,156,000, or ($0.09) per share, for the same period ended June 30, 2007. The decrease in revenue is the result of completion of development contracts with California and New York as well as the Department of Energy in 2007. Beacon Power is now entering the production phase and expects to begin to have revenue from frequency regulation late in the fourth quarter of 2008.

Read more

Press Release Archive