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SatCon Announces $2.2 Million in New Contracts
December 31, 2003 |Estimated reading time: Less than a minute
Cambridge, Mass. — SatCon Technology Corp. booked approximately $2.2 million in industrial product contracts during the first quarter, which ended December 27, 2003.
The contracts were comprised of approximately $1.1 million in vibration test systems including field service and parts. These test systems are used to test items from small electronics to missiles. The remaining $1.1 million in contracts was for rectifiers and power supplies also including field service and parts. The contracts are part of a projected $7.5 to $8 million in overall bookings for the first quarter of fiscal 2004, which supports our view that our business base is improving. Backlog at the beginning of the quarter totaled approximately $20 million. SatCon Technology Corp. manufactures and sells power control systems for critical military systems, alternative energy and high-reliability industrial automation applications. Products include inverter electronics from 5 kilowatts to 5 megawatts, power switches, and hybrid microcircuits for industrial, medical, military and aerospace applications. For more information, visit www.satcon.com.