SatCon Issues Statement Regarding 2005 Year-End Results
04 January 2006 - 9:15AM
Business Wire
SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and
manufacturer of power electronics and motors for the alternative
energy markets, in accordance with Nasdaq regulations, today stated
that its independent auditors continued the existing "going
concern" opinion in the most recently filed Form 10K. David
Eisenhaure, SatCon's Chief Executive Officer issued the following
statement. "We believe that our current cash of approximately $9
million will sustain our operations through fiscal 2007 and
possibly beyond to a cash positive operation. " About SatCon
Technology Corporation SatCon Technology Corporation is a developer
and manufacturer of electronics and motors for the Alternative
Energy, Hybrid-Electric Vehicle, Grid Support, High Reliability
Electronics and Advanced Power Technology markets. For further
information, please visit the SatCon website at www.satcon.com.
Statements made in this document that are not historical facts or
which apply prospectively are forward-looking statements that
involve risks and uncertainties. These forward-looking statements
are identified by the use of terms and phrases such as "believes,"
"expects," "plans," "anticipates" and similar expressions.
Investors should not rely on forward looking statements because
they are subject to a variety of risks and uncertainties and other
factors that could cause actual results to differ materially from
the Company's expectation. There can be no assurance that the
company will be successful in achieving any of the objectives that
are stated within the release, and such failure to achieve those
objectives could have a material, adverse effect on the future of
the Company. Additional information concerning risk factors is
contained from time to time in the Company's SEC filings. The
Company expressly disclaims any obligation to update the
information contained in this release.
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