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Valence Technology net loss falls to $135,667 in February; revenue up
By Jim Witters
Wilmington, Del., March 19 - Valence Technology, Inc. posted a net loss of $135,667 for February on revenue of $4.14 million, according to the company's monthly operating report filed March 19 with the U.S. Bankruptcy Court for the Western District of Texas.
Those figures compare to a net loss of $484,205 on revenue of $2.35 million during January.
The company also reported $586,844 in cash as of Feb. 28, down from $890,705 at the end of January.
Austin, Texas-based Valence Technology is a developer of lithium-ion batteries. The company filed for bankruptcy on July 12, 2012. The Chapter 11 case number is 12-11580.
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