Energy Conversion posts $707,296 March net loss, zero revenues

By Caroline Salls

Pittsburgh, April 26 - Energy Conversion Devices, Inc. reported a $707,296 net loss for March on zero revenues, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.

In comparison, Energy Conversion posted a $335,056 net loss for the period of Feb. 14 to Feb. 29, also on zero revenues.

The company had $128.09 million in cash and cash equivalents at March 30, up from $95.84 million at the end of February.

In addition, wholly owned subsidiary United Solar Ovonic LLC posted a $9.44 million net loss for March on $3.66 million of total revenues, compared with a $3.38 million net loss for Feb. 14 to Feb. 29 on $3.34 million of total revenues.

United Solar Ovonic listed $5.42 million of cash and cash equivalents as of March 31, up from $4.49 million as of Feb. 29.

Rochester Hills, Mich.-based Energy Conversion Devices makes thin-film flexible solar laminate products for buildings. The company filed for bankruptcy on Feb. 14 in the U.S. Bankruptcy Court for the Eastern District of Michigan under Chapter 11 case number 12-43166.

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