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Valence Technology Inc (VLNC) SEC Filing 10-Q Quarterly report for the period ending Saturday, December 31, 2011

Valence Technology Inc

CIK: 885551 Ticker: VLNC
Exhibit 99.1
 
NEWS RELEASE
 
IR Contact:
Bob Gray
Valence Technology, Inc.
512.527.292
investor@valence.com
PR Contact:
Jeff Fox
The Blueshirt Group
415.828.8298
jeff@blueshirtgroup.com
 
Valence Technology Reports
Fiscal Third Quarter Financial Results
Revenue Increase Expected for Fourth Quarter
 
AUSTIN, Texas, February 8, 2012 (GLOBE NEWSWIRE) -- Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S.-based global manufacturer of advanced energy storage solutions
for commercial applications today reported financial results for its fiscal 2012 third quarter and nine months ended December 31, 2011.
 
Executive Commentary
 
“Our third quarter revenue results were in line with prior guidance. Furthermore, during the quarter we experienced heavy bid activity to a broad spectrum of customers, including those in the healthcare, industrial, and commercial fleet markets,” said Robert L. Kanode, president and chief executive officer.
 
“In addition to powering over 60,000 vehicles since 2005, we have also introduced our U-Charge ® lithium solutions into numerous industries outside of the automotive sector. This effort is consistent with our strategy to expand the non-automotive segment of our business. This has resulted in a substantial and diverse customer base which has acknowledged Valence’s patented lithium phosphate chemistry as a safe and durable advanced energy storage solution,” stated Kanode.
 
 
 

The following information was filed by Valence Technology Inc (VLNC) on Wednesday, February 8, 2012 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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Definitive Proxy Statement (Form DEF 14A)
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Valence Technology Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2012 10-K Annual Report includes:

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SEC Filing Tools
Ticker: VLNC
CIK: 885551
Form Type: 10-Q Quarterly Report
Accession Number: 0001437749-12-001205
Submitted to the SEC: Wed Feb 08 2012 4:01:55 PM EST
Accepted by the SEC: Wed Feb 08 2012
Period: Saturday, December 31, 2011
Industry: Miscellaneous Electrical Machinery Equipment And Supplies

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