DALLAS, Feb. 22, 2010 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring industrial electrical company Valence Technology Inc. (Nasdaq:VLNC). The report includes financial, comparative and investment analysis, and pertinent industry information you need to know to make an educated investment decision.
It is available at: http://www.beaconequity.com/i/VLNC
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Valence Technology Inc. (VLNC) is engaged in developing, manufacturing and selling high-energy power systems utilizing the phosphate-based lithium-ion technology. In March 2009, the Company introduced a new revision of U-Charge, the third generation of Lithium Iron Magnesium Phosphate Energy Storage Systems. ... During the fiscal year ended March 31, 2009 (fiscal 2009), the Company discontinued the manufacturing and marketing of Epoch line of commercial products. In February 2008, the Company entered into a supply agreement with The Tanfield Group whereby it agreed to manufacture and supply.
In the report, the analyst notes:
"Revenues for the third quarter declined by $0.6 million mainly due to lower sales to Segway Inc. and Oxygen S.p.A, partially offset by increased sales to Smith Electric Vehicles U.S. and Howard Medical Solutions. The increase in gross margin to 12% in the recent quarter from 5% is mainly due to a shift in sales to higher gross margin products. Operating expenses increased by $0.7 million due to additional legal expense related to litigation, and increased research and development expenses.
"VLNC last week announced the signing of a multi-year supply agreement with BJ Technologies, a subsidiary of Beneteau Group, the world's largest sailing yacht manufacturer. Under the multi-year agreement, Valence Technology will serve as the exclusive battery supplier for all new Beneteau Group hybrid-electric vessels that incorporate the innovative ZF Marine hybrid drive systems."
To read the entire report visit: http://www.beaconequity.com/i/VLNC
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