BOLDER Technologies Forecasts Fourth Quarter Net Revenue
GOLDEN, Colo., Dec. 28 /PRNewswire/ -- BOLDER Technologies Corporation (Nasdaq: BOLD) announced that the preliminary net revenue forecast for the fourth quarter ending December 31, 2000 would approximate $2.0 million vs. $1.435 million actual net revenue in the third quarter of 2000 and $1.803 million actual net revenue in the fourth quarter of 1999. For the six-month period of July to December 2000, the preliminary projection for net revenue is $3,435,000, compared to $1,859,309 for the same period a year ago, according to Roger F. Warren, chairman, president and CEO.
Warren continued, "For the year 2000, we believe we can achieve net revenue of approximately $4,400,000, compared to $2,029,316 for 1999, an increase of 116%. While this represents a significant sales increase year-to-year, the projected gain in fourth quarter 2000 net revenue is below previous expectations reflecting the overall slowdown in the retail sector. We anticipate substantially increased net revenue in 2001 over 2000, based on the Spring 2001 introduction of the two new previously announced products -- the MiniMax 900 Portable Jump Starter for automobiles and the SideKick 900 Intelligent Starting Battery System for boats."
These preliminary revenue estimates are subject to final accounting and audit processes and, therefore, could change.
The Mini Max 900 weighs only three pounds, starts a car with a dead battery immediately and can be stored in a glove compartment or a side-door panel of the vehicle. The SideKick 900 weighs only five pounds and attaches to an existing boat battery. When connected to an existing boat battery, the SideKick 900 automatically takes over the starting function, guarantees a start under almost any conditions and extends the service life of a traditional starting battery by up to 40%. When connected to a deep cycle marine energy battery, the SideKick 900 can extend battery system life by up to 400% for most boat owners.
BOLDER commenced shipments of the SecureStart(TM) Portable Jump Starter in September 1999. SecureStart(TM) is a small, lightweight, rechargeable device that can provide an instant engine start on a dead battery in a car, truck, tractor or boat. It features a built-in flashlight and cable clamps for jump starting, weighs less than five pounds, can be easily stored in any vehicle and recharges in minutes.
BOLDER Technologies Corporation, headquartered in Golden, Colorado, manufactures and markets advanced, high-power rechargeable batteries based on its patented Thin Metal Film ("TMF(R)") technology. The Company is developing and commercializing consumer and OEM battery products with the TMF(R) technology, including the SecureStart(TM) Portable Jump Starter, that use proven lead-acid electrochemistry in a proprietary configuration with a higher power density than any commercially available rechargeable battery. The TMF(R) technology offers numerous advantages over existing batteries for current and future applications, including near-term opportunities in the marine and auto after markets for 12V primary starting batteries. BOLDER's website is www.boldertech.com .
BOLDER's TMF(R) technology also has possible future applications in the pending auto industry conversion from 12V to 36V systems, both directly through vendor sales and indirectly through a license agreement with Johnson Controls, Inc. (JCI). JCI uses the TMF(R) technology for its Inspira(R) battery system for 36V architectures and is highlighting the opportunity on its website: www.johnsoncontrols.com/bg/NewTechnologies .
Certain statements in this press release are forward-looking in nature, and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated.
For more information, contact: Paul C. Kelly, CFO of BOLDER Technologies Corporation, 303-215-7290; or Philip L. Thomas of The P.L. Thomas Group, Inc., for BOLDER Technologies Corporation, 312-704-1800.
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