Valence Technology, Inc. Provides Interim Update and Sets Conference Call Date to Discuss Its Fiscal 2008 and Fourth Quarter Fin
April 17 2008 - 7:00AM
Business Wire
Valence Technology, Inc. (NASDAQ: VLNC), a provider of advanced
lithium phosphate rechargeable batteries, said today it will
conduct a conference call to discuss its fiscal 2008 and fourth
quarter financial results starting at 3:00 p.m. EDT (2:00 p.m. CDT)
on Thursday, June 5, 2008. During the call, Robert L. Kanode,
president and CEO, and Galen Fischer, chief financial officer, will
review financial results and business operations, including
progress in the European electric vehicle (EV) market and the
previously announced expansion of manufacturing capacity to meet
anticipated demand. �We continue to work diligently to fulfill
customer orders and expand our client base both in Europe and the
United States,� said Mr. Kanode. �During our fiscal fourth quarter
ended March 31, 2008, we began shipping battery packs to Smith
Electric Vehicles for its Edison and Newton electric delivery
vehicles. We are continuing the expansion of our manufacturing
capacity to fulfill the needs of Smith and others. Smith�s
projection to build 2,500 Edison and Newton vehicles during the
period ending March 31, 2009 will result in $70 million of revenue
for Valence. We believe the success we are experiencing through our
agreement with Smith to provide safe lithium phosphate energy power
solutions will serve to expand our client base in the renewable,
clean energy markets.� Conference Call Details The conference call
will be webcast starting at 3:00 p.m. EDT (2:00 p.m. CDT) on June
5, 2008 and may be accessed by all interested parties at
www.valence.com. To access the webcast, please go to this Web site
approximately fifteen minutes prior to the start of the call to
register, download, and install any necessary audio software. Those
callers within the United States and Canada can dial (888) 213-3752
and enter conference identification number 1222409 to participate.
Callers outside the United States and Canada can dial (913)
312-0643 and enter conference identification number 1222409. A
telephonic replay will be available from 5:00 p.m. CDT on June 5,
2008 through 5:00 p.m. CDT on June 12, 2008. To access the replay,
please dial (888) 203-1112 and enter the following identification
number 1222409. In addition, a replay of the webcast will be
available on the company�s Web site at www.valence.com. About
Valence Technology, Inc. Valence Technology developed and markets
the industry's first commercially available, safe, large-format
family of Lithium Phosphate Rechargeable Batteries. Valence
Technology holds an extensive, worldwide portfolio of issued and
pending patents relating to its Lithium Phosphate Rechargeable
Batteries. The company has facilities in Austin, Texas; Las Vegas,
Nevada; Mallusk, Northern Ireland and�Suzhou, China. Valence is
traded on the NASDAQ Capital Markets under the ticker symbol VLNC
and can be found on the internet at www.valence.com. Safe Harbor
Statement Some information included in this press release contains
forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Act of
1934. These statements can sometimes be identified by the use of
forward-looking words such as �may,� �will,� �anticipate,�
�estimate,� �except,� �forecast,� �outlook,� �scheduled,� or
�intend� and similar expressions. These statements reflect the
current views, beliefs and assumptions of Valence, and are subject
to various risks and uncertainties that could cause actual results
to differ materially from expectations. Among the important factors
that could cause actual results to differ materially from those in
the forward-looking statements is the actual level of product that
Smith Electric Vehicles purchases under the supply agreement; and
Valence�s ability to scale its manufacturing and other capacity to
fulfill its obligations under the contract if such expectations are
met; as well as other factors detailed in Valence�s filings with
the Securities and Exchange Commission, including its Annual Report
on Form 10-K and Quarterly Reports on 10-Q. Valence does not
undertake any obligation to update or supplement any
forward-looking statements to reflect subsequent events or
circumstances and cannot assure that projected results or events
will be achieved.
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