Tuesday, February 9, 2010

Active Power Sees Growth, Cuts Loss

Austin-based Active Power, a publicly held manufacturer of backup power systems, announced its results today, saying that it had strong growth in its fourth quarter ended December 31st. The firm said that revenues were up 64% over the prior quarter, and were the second highly quarterly revenue in the firm's history. The company reported a loss of $2.2M on revenues of $14.0M. For the year, the firm reported a net loss of $11.0M on revenues of $40.3M for the full year. Active Power is a developer of flywheel-based UPS systems, used in data centers, healthcare, manufacturing, and other facilities.