Energy Conversion Devices Comments on Recent Solar Integrated Technologies' U.S. Project Outlook
24 9월 2008 - 9:55PM
PR Newswire (US)
ECD Sees Increasing Demand for Its Products; No Change to Company
Fundamentals; Revenues and Growth Outlook Remain Positive ROCHESTER
HILLS, Mich., Sept. 24 /PRNewswire-FirstCall/ -- Energy Conversion
Devices, Inc. (ECD) (NASDAQ:ENER), the leading global manufacturer
of thin-film flexible solar laminate products for the building
integrated and commercial rooftop markets, today commented on
recent statements by Solar Integrated Technologies, Inc. (SIT)
(AIM.LN: SIT), regarding the cancellation or delay of certain of
SIT's projects in the United States due to uncertainty regarding
the U.S. Investment Tax Credit. "Our business remains strong, and
there has been no change to our fundamentals," said Mark Morelli
ECD's president and CEO. "Our largest market opportunities are
currently in Europe where there is strong demand for our
building-integrated (BIPV) solar product. Germany, Italy, France,
and now Spain are growth markets for us. The announced changes in
SIT's business do not affect our positive growth outlook." "As
we've stated in the past, we continue to believe that the U.S.
market has tremendous potential for our products. We believe that
the continuation of the Investment Tax Credit is an immediate step
for the development of a vibrant U.S. solar market," said Morelli.
"As I have noted before, demand for our BIPV product exceeds our
ability to produce, so we are growing our capacity to 1GW by 2012.
Our business is strong, our worldwide backlog continues to grow,
and I look forward to updating our investors on our progress with
our first fiscal quarter earnings call scheduled for November 10,
2008," added Mr. Morelli. About Energy Conversion Devices Energy
Conversion Devices, Inc. (ECD) (NASDAQ:ENER) is the leader in
building integrated and commercial rooftop photovoltaics, one of
the fastest growing segments of the solar power industry. The
company manufactures and sells thin-film solar laminates that
convert sunlight to energy using proprietary technology. ECD's
UNI-SOLAR(R) brand products are unique because of their
flexibility, light weight, ease of installation, durability, and
real-world efficiency. ECD also pioneers other alternative
technologies, including a new type of nonvolatile digital memory
technology that is significantly faster, less expensive, and ideal
for use in a variety of applications including cell phones, digital
cameras and personal computers. For more information, please visit
http://www.ovonic.com/ . This release contains forward-looking
statements within the meaning of the Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning our plans, objectives,
goals, strategies, future events, future net sales or performance,
capital expenditures, financing needs, plans or intentions relating
to expansions, business trends and other information that is not
historical information. All forward-looking statements are based
upon information available to us on the date of this release and
are subject to risks, uncertainties and other factors, many of
which are outside of our control, that could cause actual results
to differ materially from the results discussed in the
forward-looking statements. Risks that could cause such results to
differ include: our ability to achieve sustainable profitability;
our ability to maintain our customer relationships; our ability to
expand our manufacturing capacity in a timely and cost-effective
manner; the worldwide demand for electricity and the market for
solar energy; the supply and price of components and raw materials
for our products; and the resolution of pending legal disputes. The
risk factors identified in the ECD filings with the Securities and
Exchange Commission, including the company's most recent Annual
Report on Form 10-K and most recent Quarterly Report on Form 10-Q,
could impact any forward-looking statements contained in this
release. DATASOURCE: Energy Conversion Devices, Inc. CONTACT: Mark
Trinske, Vice President, Investor Relations & Communications of
Energy Conversion Devices, Inc., +1-248-299-6063 Web site:
http://www.ovonic.com/
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