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| High
performance electrical transmission & Wind Energy CPTC $1.37 Shares Outstanding 223 M Float: 170.18 M 1/25/08 |
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| CTC is a global provider of electric utility solutions featuring its breakthrough composite technologies. CTC’s transmission and distribution cable products address a $50 billion annual global market that is projected to exceed $80 billion within 10 years. CTC’s premiere product is a composite-reinforced conductor known as ACCC (Aluminum Conductor Composite Core) cable. ACCC cable has the potential to revolutionize electrical grids by offering twice the power of traditional aluminum cables, 25% stronger materials and dramatically improved reliability – all at installed cost savings. | |
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In December The Company recorded record revenue for fiscal 2007 of $40.8 million, an increase of 402% compared to revenue of $10.1 million for fiscal 2006. GAAP net loss increased to $45.0 million or $0.24 per share as compared to $28.5 million or $0.20 per share on increased expenses related to the acquired DeWind subsidiary and increased interest expenses related to higher debt balances. The Company ended the fiscal year with $22.7 million in cash and cash equivalents. Complete financial results are included on our Form 10-K filed with the Securities and Exchange Commission on December 14, 2007. |
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"Fiscal 2007 was a year of outstanding progress towards revenue growth for each of our business segments," commented Benton Wilcoxon, Chief Executive Officer for CTC. "The multi-year sales contract with Jiangsu Far East has demonstrated a key adoption of our ACCC conductor technology and the German certification of our new 2 megawatt D8.2 DeWind turbine in July 2007 helped position the DeWind business for substantial growth in 2008 and beyond." |
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| "CTC Cable business saw substantial revenue growth in the second
half of fiscal 2007 with over 70% of revenue occurring in the last
two quarters, and the current order backlog of over $16 million
exceeds all fiscal 2007 revenues for that business," said D.J.
Carney, Chief Financial Officer of CTC. "The successful execution of
engineering and sales efforts for our DeWind business has resulted
in an increase of the order backlog to $50 million for that business
segment at fiscal year end." CTC is pleased to announce that management will host a conference call and simultaneous audio webcast to discuss its fiscal 2007 results and provide revenue guidance for its first 2008 fiscal quarter ending December 31, 2007 on December 18th, 2007 at 10:00 AM Pacific Time, 1:00 PM Eastern. Analysts and institutional investors may participate by calling 1-888-339-9446, or internationally by dialing + 1-480-239-1734. A live audio webcast will be available at http://viavid.net/dce.aspx?sid=000049A9 and the broadcast will be archived and available for replay for one year. |
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| About CTC | |
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Composite
Technology Corporation, based in Irvine, California, USA develops,
manufactures and sells innovative high performance electrical
transmission and renewable energy generation products through its
subsidiaries: DeWind Inc. designs, produces, and sells the DeWind series of wind energy turbines, including the new 2 megawatt D8.2 model available in both 50Hz and 60Hz; the 2MW D8 model in 50Hz; and the 1.25MW D6 model in 50Hz. |
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The new D8.2 has been
operating since early 2007 at Cuxhaven, Germany, and utilizes the
advanced WinDriveŽ hydrodynamic torque converter developed by Voith
AG with a synchronous AC generator connected directly to the grid at
high voltage without the use of power conversion electronics.
Preparations are now being completed for a 60Hz version to be
installed in Sweetwater, Texas, for certification to US standards.
D8.2 turbines are now being assembled at TECO Westinghouse Motor
Company in Texas, for our North and South American customers. Aluminum Conductor Steel Reinforced (ACSR) and other traditional energy cables utilize a steel wire core around which the aluminum conductor wires are wrapped – a design originally introduced in 1898. In contrast, CTC’s Aluminum Conductor Composite Core – ACCC – cables incorporate a light-weight advanced composite core around which aluminum conductor wires are wrapped in a manner identical to traditional energy cable. The composite cores lighter-weight, smaller size, and enhanced strength and other performance advantages over traditional steel core allows ACCC to double the current carrying capacity over existing transmission and distribution cable and virtually eliminate high-temperature sag. |
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| CTC Cable Corporation produces composite rod for use in its patented ACCC (aluminum conductor composite core) conductors, which are "high efficiency conductors" for use in electrical transmission grid systems. ACCC conductors demonstrate less electricity line losses when compared with conventional conductors. When deployed in place of conventional conductors on existing systems, the higher efficiency of ACCC conductors enable power generators to reduce the amount of power they must generate while still delivering the same power to the customers. They have also demonstrated significant savings in upgrade capital costs and operating expenses when substituted for other conductors. ACCC conductors enable grid operators to reduce blackouts and brownouts, providing a 'reserve electrical capacity' by operating at higher temperatures without significant thermal sag of the lines. ACCC conductors are an innovative economical solution for reconductoring power lines, constructing new lines and crossing large spans. |
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ACCC composite rod is
delivered to qualified conductor manufacturers worldwide for local
ACCC conductor production and resale into local markets. Higher
operating efficiency can help decrease power generation costs and
help meet emission standards. Doubles the current carrying
capacity over conventional ACSR - reconductor existing pathways
without structural modifications Composite core design allows up to 28% more aluminum to be utilized Cable can be operated efficiently at higher temperatures - 200o C vs 100o C for conventional cable Virtually eliminates problematic high-temperature sag |
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| Contact | |
| Composite Technology Corporation 2026 Mcgaw Avenue Irvine, CA 92614 Phone: 949-428-8500 Fax: 949-428-8515 Web Site: http://www.compositetechcorp.com Investor Relations Contact: James Carswell +1-949-428-8500 |
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