Motech Industries Inc. Reports Second Quarter Results

Submitted by orville on September 3, 2009
in

Motech Industries Inc., one of the world’s leading producers of photovoltaic (PV) cells, today reported consolidated net revenues1 of NT$ 3,259 million for the second quarter of 2009 (2Q09), down 46.58% year-over-year and 21.80% sequentially. Net income for the quarter was negative NT$ 234 million, down 588.43% from NT$ 48 million in 1Q09 and down 138.60% from NT$ 606 million in 2Q08 respectively. Earnings per share (EPS) for the quarter were negative NT$ 0.83, compared to NT$ 0.20 for 1Q09 and NT$ 2.44 for 2Q08.

About Motech

Motech Industries Inc. (formerly Meter International Corporation before 1998) was founded in 1981 as a designer and manufacturer of test and measurement instruments. The company entered into solar cell production in 1999, and is a pioneer in the manufacturing and marketing of high-quality single and multi-crystalline silicon solar cells in Taiwan. Today, the company is the largest solar cell manufacturer in Taiwan and one of the top ten manufacturers worldwide in terms of production capacity and output in 2007. "Modern Technology for a Sustainable World" is the company’s motto to emphasize its strong dedication to developing a sustainable world and to encouraging the use of renewable sources of energy so that we, as citizens of the world, can breathe easier in the years to come. Motech is a publicly traded company on Taiwan's Over-the-Counter (OTC) market with the trading code of 6244.

Source: Motech