Axion Power International, Inc. (AXPW.OB) Reports 2009 Third Quarter, Nine-Month Results
QualityStocks (November 16th, 2009) Writes:
Axion Power International Inc. is the industry leader in the field of lead-acid-carbon energy storage technologies. The company’s new PbCA batteries won the prestigious Frost & Sullivan Technology Award for North America in the field of lead-acid batteries.
The company today reported results for its third quarter and nine months ended September 30, 2009. Sales for the third quarter were $962,833 versus only $149,441 in the 3rd quarter last year, while sales for the first nine months of 2009 were $1.6 million versus only $541,298 for the first nine months of 2009. Axion did show a loss for the first nine months of 2009 totaling $23.5 million, however, over $13.5 million of that total was due to SEC mandated changes on certain derivative securities.
During the third quarter, the company completed an initial phase in its four-year global supply agreement with Exide Technologies. Axion will supply PbCA batteries and other Axion
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