Zoltek Companies, Inc. : Zoltek Reports Third Quarter Results

        Zoltek Companies, Inc. : Zoltek Reports Third Quarter Results

FOR IMMEDIATE RELEASE

    ST. LOUIS, MISSOURI - August 9, 2013 - Zoltek Companies Inc. (Nasdaq:
ZOLT) today reported financial results for the third quarter of its 2013
fiscal year.

    Zoltek's net revenues for the quarter ended June 30, 2013, totaled
$30.3 million, compared to $48.1 million in the third quarter of fiscal 2012.
Revenues in the recently completed quarter excluded sales of $2.0 million from
carbon fibers in-transit for delivery to a customer in China at the end of the
quarter, which will be recognized in the current quarter. On a sequential
basis, net revenues for the latest quarter decreased from $33.3 million in the
second quarter of fiscal 2013.

    Zoltek reported a net loss of $0.9 million ($0.03 per share) in the
third quarter of fiscal 2013, which included a $1.2 million loss from foreign
currency transactions. That compared to net income of $3.3 million in the
immediately preceding quarter, which included a gain of $1.7 million from
foreign currency transactions, and to net income of $5.6 million ($0.16 per
share) in fiscal 2012's third quarter. The Company's operating earnings were
$1.0 million in the latest quarter, compared to $1.7 million in the second
quarter of the current fiscal year, and to $6.4 million in the third quarter
of fiscal 2012.

    For the nine months ended June 30, 2013, Zoltek's net sales were $99.5
million, compared to $142.1 million in the first nine months of fiscal 2012, a
decrease of 30%. Operating income for the year-to-date period of fiscal 2013
was $6.3 million, compared to $20.3 million in the corresponding period of
fiscal 2012. Net income for the recent nine months was $5.4 million ($0.16 per
share), compared to $18.6 million in the first three quarters of fiscal 2012
($0.54 per share).

    "The cyclical downturn in the wind energy market that began in the
fourth quarter of fiscal 2012, continued to negatively affect our sales and
operating results in the third quarter. However, in recent weeks we have seen
a number of signs that demand in our sector of the wind energy market -
supplying carbon fibers used in the manufacture of the biggest and most
advanced wind turbines - is picking up again and will show renewed strength
through at least the end of calendar year 2013," said Zsolt Rumy, Zoltek's
Chairman and Chief Executive Officer. Rumy added, "Despite a small third
quarter net loss - our first in eight quarters - Zoltek remains cash flow
positive from operating activities, with a sound balance sheet."

    "Meanwhile, we continue to invest and make solid progress in our
long-term efforts to develop new applications for our low-cost,
high-performance carbon fibers in other fields - with automotive leading the
list. We are working closely with auto companies, their top-tier suppliers,
and composite equipment companies in dozens of trials and demonstration
projects."

    Zoltek will host a conference call to review its third quarter results
on Monday, August 12, 2013 at 10:00 am CT. The conference dial-in number is
(888) 430-8705. The confirmation code is 3306087. As a reminder, there will
not be a Q&A portion of the call due to the ongoing strategic alternatives
evaluation process previously announced by the Company. Individuals who wish
to listen to the call should dial in 5 to 10 minutes prior to the scheduled
start time. This conference call will also be webcast on Zoltek's website-
www.zoltek.com- under "Investor Relations." The webcast replay will be
available on the website several hours after the call.

                       For further information contact:
                             Andrew Whipple, CFO
                              3101 McKelvey Road
                             St. Louis, MO 63044
                                (314) 291-5110

This press release contains certain statements that constitute
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. The words "expect," "believe," "goal," "plan,"
"intend," "estimate," and similar expressions and variations thereof are
intended to specifically identify forward-looking statements. Those statements
include statements regarding the intent, belief or current expectations of us,
our directors and officers with respect to, among other things: (1) our
financial prospects; (2) our growth strategy and operating strategy, including
our focus on facilitating acceleration of the introduction and development of
mass market applications for carbon fibers; and (3) our current and expected
future revenue. This press release also contains statements that are based on
the current expectations of our company. You are cautioned that any such
forward-looking statements are not guarantees of future performance and
involve risks and uncertainties, and that actual results may differ materially
from those projected in the forward-looking statements as a result of various
factors. The factors that might cause such differences include, among others,
our ability to: (1) successfully adapt to recessionary conditions in the
global economy and substantial volatility in order rates from our wind energy
customers, including our principal customer Vestas Wind Systems; (2) penetrate
existing, identified and emerging markets, including entering into new supply
agreements with large volume customers; (3) continue to improve efficiency at
our manufacturing facilities on a timely and cost-effective basis; (4)
successfully add new planned capacity for the production of carbon fiber,
prepregs and precursor raw materials and meet our obligations under long-term
supply agreements; (5) operate profitably; (6) increase or maintain our
borrowing at acceptable costs; (7) manage changes in customers' forecasted
requirements for our products; (8) continue investing in application and
market development for a range of applications; (9) manufacture low-cost
carbon fibers and profitably market them despite fluctuations in raw material
and energy costs; (10) successfully operate our Mexican facility to produce
acrylic fiber precursor and carbon fibers; (11) successfully continue
operations at our Hungarian facility if natural gas supply disruptions occur;
(12) successfully prosecute patent litigation; (13) successfully facilitate
adoption of our carbon fibers by the auto industry for use in high-volume
applications; (14) establish and grow prepreg capacity; (15) speed development
of low-cost carbon fiber sheet molding compounds for the automotive industry
pursuant to our global collaborative partnership with Magna Exteriors and
Interiors; (16) resolve possible disputes with a group of shareholders that
filed a Schedule 13D reporting beneficial ownership of an aggregate of
approximately 10.1% of our outstanding common stock, including the group's
request for a special shareholders meeting to remove the current Board of
Directors and elect new directors; (17) successfully pursue the announced
process for exploring strategic alternatives to maximize shareholder value;
and (18) manage the risks identified under "Risk Factors" in our filings with
the SEC. Because forward-looking statements are inherently subject to risks
and uncertainties, some of which cannot be predicted or quantified, you should
not rely upon forward-looking statements as predictions of future events. The
events and circumstances reflected in the forward-looking statements may not
be achieved or occur and actual results could differ materially from those
projected in the forward-looking statements.

Q3-2013 Summary Financials

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Zoltek Companies, Inc. via Thomson Reuters ONE
HUG#1722331
 
Press spacebar to pause and continue. Press esc to stop.