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Last $1.25 USD
Change Today -0.05 / -3.85%
Volume 1.3K
As of 8:10 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

mechanical technology inc (MKTY) Key Developments

Mechanical Technology, Incorporated Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Mechanical Technology, Incorporated announced earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's net loss was $218,000, or $0.04 loss per share, compared to a net income of $178,000, or $0.03 per share, for the same quarter ended June 30, 2014. Product revenue was $1.95 million, compared to $2.48 million for the same quarter ended June 30, 2014. For the six months, the company's net loss was $605,000, or $0.12 loss per share, compared to a net loss of $254,000, or $0.05 loss per share, for the same period ended June 30, 2014. Product revenue was $3.59 million, compared to $3.86 million for the same period ended June 30, 2014.

Mechanical Technology, Incorporated Reports Earnings Results for the Second Quarter 2015

Mechanical Technology, Incorporated reported earnings results for the second quarter 2015. For the quarter, revenue decreased by $527,000 as compared to the corresponding prior year period. Increases in commercial sales were not significant enough to offset the lower purchases from the U.S. Air Force. Despite this revenue shortfall, another milestone was achieved with the addition of a major global OEM in Europe, as a significant new Digital Accumeasure end use was commercialized. Operating loss improved by $179,000 as compared to the first quarter of 2015, with a $0.04 loss per share, as the impact of second quarter revenue reductions was partially offset by improved margins. Gross profit was maintained above 60% in the second quarter of 2015, as it improved to 62.4% as compared to 59.8% in the second quarter of 2014. This resulted from the combination of the product sales mix and the impact from the ongoing efforts to reduce manufacturing costs and improve inventory management.

Mechanical Technology, Incorporated, Board Meeting, Jun 11, 2015

Mechanical Technology, Incorporated, Board Meeting, Jun 11, 2015. Agenda: To consider stock repurchase program.

Mechanical Technology, Incorporated Reports Earnings Results for the First Quarter Ended March 31, 2015

Mechanical Technology, Incorporated has reported that net loss for the first quarter ended March 31, 2015 was $388,000, or $0.07 loss per share, compared to a net loss of $432,000, or $0.08 loss per share, for the same quarter ended March 31, 2014. Product revenue was $1.64 million, compared to $1.38 million for the same quarter ended March 31, 2014. Operating loss was $387,000, compared to an operating loss of $432,000 for the same quarter a year ago.

Mechanical Technology, Incorporated, Annual General Meeting, Jun 11, 2015

Mechanical Technology, Incorporated, Annual General Meeting, Jun 11, 2015., at 10:00 US Eastern Standard Time. Location: 4 Pine West Plaza. Agenda: To consider and elect two directors to serve for a three-year term ending at the company annual meeting of stockholders to be held in 2018 and until each such director as a successor is duly elected and qualified; to consider and ratify the appointment of UHY LLP as the company’s independent registered public accounting firm for fiscal year 2015; to consider and approve an advisory non-binding vote on executive officer compensation; and to consider the transact such other business as may properly come before the meeting.

 

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MKTY

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Valuation MKTY Industry Range
Price/Earnings 16.9x
Price/Sales 0.7x
Price/Book 1.7x
Price/Cash Flow 16.2x
TEV/Sales 0.6x
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