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Endorseon Nov 22, 2011 3:05pm
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Microplanet Q3
Microplanet Q3
https://www.newswire.ca/en/story/882641/microplanet-reports-q3-results
Quarter Highlights
- Sales for the Quarter consisted of deliveries of the Company's Second Generation Low Voltage Regulators ("LVR2") to both new and existing Australian energy utility customers, and rental income from supplying voltage regulation services to the U.S. Department of Energy's National Renewable Energy Labs for the 2011 Solar Decathlon (https://www.solardecathlon.gov/).
- Reported sales of $303,149, compared to $23,403 for the prior year quarter.
- Operating expenses of $810,261 compared to $746,043 for the prior year quarter.
- Net loss of $247,697 (net of $477,821 foreign exchange gain) compared to $1,040,146 for the prior year quarter.
"During the quarter we were successful in validating two units of ournewly UL-certified 4 kVA product line as an effective solution for theintegration of electricity generated by distributed renewable sourcesback into the grid," stated Brett Ironside, MicroPlanet President andCEO. "Our technology performed very well during the US Department ofEnergy's 2011 Solar Decathlon, successfully regulating the voltagegenerated by the solar homes in the competition back to the grid, aswell as regulating the voltage of electricity flowing from the localelectric utility into the competition's microgrid. We are pleased tohave proven the efficacy of our products as integrators of distributedrenewable generation sources back into the grid at such a prestigiousevent."