Manufacturing Industry
Zoltek Reports Fiscal First Quarter 2004 Results, Still at a Loss, but Major Developments Pending Soon.
Advanced Materials & Composites News, March, 2004
February 17, 2004 - Zoltek Companies, Inc. (Nasdaq-ZOLT) today reported results for the quarter ended December 31, 2003. For the quarter, Zoltek reported a net loss of $3.7 million on revenues of $13.3 million, compared to a net loss of $3.2 million on revenues of $17 million in the quarter ended December 31, 2002.
"Our financial results for the quarter were negatively affected by two principal factors," Zsolt Rumy, Zoltek's Chairman and Chief Executive Officer, said. "First, there were further declines in revenues and earnings in our aircraft brake business due to the continuing slump in commercial air travel since 9/11 (2001). Second, there was a decrease in sales due to the temporary cessation of most prepreg production during the quarter, as we relocated...
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