Energy Conversion posts $1.62 million May net loss on zero revenues

By Caroline Salls

Pittsburgh, July 12 - Energy Conversion Devices, Inc. reported a $1.62 million net loss for May on zero revenues, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.

In comparison, Energy Conversion posted a $1.01 million net loss for April, also on zero revenues.

The company had $129.02 million in cash and cash equivalents at May 31, down from $129.62 million at the end of April.

In addition, wholly owned subsidiary United Solar Ovonic LLC posted a $7.9 million net loss for May on $2.42 million of total revenues, compared with a $1.9 million net loss for April on $1.58 million of total revenues.

United Solar Ovonic listed $10.97 million of cash and cash equivalents as of May 31, down from $11.72 million at April 30.

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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