Earnings Call Excerpt
Ocean Power Technologies, Inc.
F2Q09 Earnings Call
December 10, 2008 10:00 am ET
Executives
Charles Dunleavy – Chief Financial Officer
George Taylor – Chief Executive Officer
Mark Drape – Chief Operating Officer
Presentation
Operator
Good day everyone and welcome to Ocean Power Technologies second quarter 2009 audio webcast. Today's conference is being recorded and webcast. At this time for opening remarks I would like to turn the call over to the Chief Financial Officer of Ocean Power Technologies, Mr. Charles Dunleavy.
Charles Dunleavy
Good morning and welcome to Ocean Power Technologies audio web cast for the second quarter ended October 31, 2008. Earlier today we issued our second quarter results press release and we will be filing our Form 10-Q with the Securities and Exchange Commission today. Our public filings can be viewed on the SEC website at sec.gov or you may go to our website, oceanpowertechnologies.com. I'll be joined on today's webcast by Dr. George Taylor, Chief Executive Officer and Mark Draper, Chief Operating Officer.
During the course of this conference call management may make projections or other forward-looking statements regarding future events or financial performance of the company within the meaning of the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. As indicated in the slide, these forward looking statements are subject to numerous assumptions made by management regarding future circumstances or which the company may have little or no control, involve risks and uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements.
We refer you to the company's Form 10-Q and other recent filings with the Securities and Exchange Commission for a description of these and other risk factors. I'll now turn the call over the George Taylor, our Chief Executive Officer.
George Taylor
Thanks to everyone who's joined us for today's webcast. The second quarter of fiscal 2009 brought a number of important milestones to fruition for OPT. We delivered on key projects to customers such as Iberdrola in Spain and the U.S. Navy. We have also made steady progress in the development of our proprietary technology, in particular our 150 kilowatt rate of PowerBuoy, the PB150.
We believe that achieving these milestones which build on our ten years of technology development and in ocean experience will set the stage to elevate OPT's position in the alternative energy marketplace in the near future.
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