Exhibit 99.1
 
NEWS RELEASE
 
IR Contact:
PR Contact:
Bob Gray
Jeff Fox
Valence Technology, Inc.
The Blueshirt Group
512.527.2921
415.828.8298
investor@valence.com
jeff@blueshirtgroup.com


Valence Technology Announces Third Quarter and Year-to-Date Financial Results
Record Quarterly Revenue of $13.8 million
 
AUSTIN, Texas, Feb 2, 2011 – Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S.-based global manufacturer of advanced energy storage solutions, today announced financial results for its fiscal 2011 third quarter and nine months ended December 31, 2010.
 
Highlights - Fiscal Third Quarter 2011
 
 
·
Revenue increased 234% to $13.8 million, compared to $4.1 million in the third quarter of fiscal 2010.
 
 
·
Gross margin increased to 20%, up from 12% in the year-ago quarter.
 
 
·
Operating loss narrowed to $1.2 million, compared to a loss of $4.3 million in the year-ago quarter.
 
 
·
Net loss available to common shareholders decreased to $2.0 million, or $0.01 per share, compared to a loss of $5.6 million, or $0.04 per share in the year-ago quarter.
 
 
·
On a sequential basis, the Company experienced a 9% growth in revenue while its gross margins remained essentially flat at 20% compared to the second quarter of fiscal 2011.
 
Highlights - Fiscal Nine Months of 2011 Compared to Same Period of 2010
 
 
·
Revenue increased 163% to $32.0 million, compared to $12.2 million.
 
 
·
Gross margin increased to 20%, up from 13%.
 
 
·
Operating loss narrowed to $7.5 million, compared to a loss of $13.6 million.
 
 
·
Net loss available to common shareholders decreased to $10.3 million, or $0.07 per share, compared to a loss of $18.1 million, or $0.14 per share.
 
 
 

The following information was filed by Valence Technology Inc (VLNC) on Wednesday, February 2, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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