Southwall Announces Q3 2007 Results

Date: 16 November 2007
Source: Southwall

Date: 16 November 2007

Southwall Technologies Inc. (OTCBB:SWTX) announced third quarter 2007 revenue of $9.249 million compared to $9.597 million in the third quarter of 2006, a 3.63% decrease.

The decrease was primarily due to a decline in revenue relating to the electronic display products partially offset by an increase in window film and automotive glass products.



Third quarter 2007 net income was $250 thousand, earnings per fully diluted share was zero, compared to a net loss of $2.721 million or ($0.11) per fully diluted share for the third quarter of 2006. The increase was primarily due to $3.23 million lower operating expenses and $500 thousand in other income from a Technology Transfer and Service Agreement.



Our cash and cash equivalents at the end of the third quarter were $4.775 million.



Mr. Dennis Capovilla, President, said, "We are pleased to report our third consecutive quarter of profitability, which is a direct result of our focus on streamlining our infrastructure and directing our attention to core energy markets."


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