Energy Conversion posts $2.54 million July net loss on zero revenues

By Caroline Salls

Pittsburgh, Aug. 24 - Energy Conversion Devices, Inc. reported a $2.54 million net loss for July on zero revenues, according to its monthly operating report filed Friday with the Securities and Exchange Commission.

In comparison, Energy Conversion posted an $84.95 million net loss for June, also on zero revenues.

The company had $125.49 million in cash and cash equivalents at July 31, down from $127.19 million at the end of June.

In addition, wholly owned subsidiary United Solar Ovonic LLC posted a $15.73 million net loss for July on $1.53 million of total revenues, compared with a $66.32 million net loss for June on $1.32 million of total revenues.

United Solar Ovonic listed cash and cash equivalents of $10.83 million as of July 31, up from $10.56 million at June 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, 2012 in the U.S. Bankruptcy Court for the Eastern District of Michigan under Chapter 11 case number 12-43166.

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