Hoku Scientific reaches milestones, posts strong quarter
Advertiser Staff
Kapolei-based maker of fuel-cell membranes Hoku Scientific Inc. said third-quarter earnings were $202,000, which marked the company's fourth consecutive profitable quarter. In July, Hoku Scientific Inc. became the first local company to turn public since 1999.
THE NUMBERS
Revenue: $1.7 million, versus $75,000 a year ago.
Net income: $202,000, compared with a loss of $650,000 a year ago.
Earnings per share: A penny a share versus a loss of 11 cents a share a year ago.
Revenue for nine-month period: $4.2 million versus $175,000 a year ago.
Net income for nine-month period: $836,000 compared with a $2.1 million loss a year ago.
REASONS
WHAT THEY ARE SAYING
"We are pleased with the progress of our technology development and the status of our various customer relationships, and remain optimistic about the growth of the fuel-cell industry and our competitive position within this growing industry."
Dustin ShindoHoku chief executive
WHAT'S NEXT
Hoku expects revenues for the fourth quarter to be in the range of $1.7 million to $2 million.
The company expects costs to increase significantly to support new and existing products.
Hoku expects net income to be in the range of a loss, break even or slightly profitable.
The company continues to test and install new manufacturing equipment to increase capacity for potential future needs.
