Satcon Technology Corp. Q2 2009 Earnings Call Transcript

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2009-08-13 19:54:20.0

Tags: Revenue, Backlog, Call Transcript, Earnings, SatCon Technology Corp., Operational Accounting, Finance, Seeking Alpha

Question-and-Answer Session

Operator

We’ll now be conducting a question and answer session. (Operator Instructions). Our first question comes from the line of Dale Pfau with Cantor Fitzgerald.

Dale Pfau – Cantor Fitzgerald

How is Q3 shaping up to be from a revenue perspective and maybe you can tell us how that’s breaking out in terms of products, the 500 KW or the 1 MW, that you expect to be shipping in Q3?

Steve Rhoades

We’re not going to give revenue guidance because we said backlog is up, but we are not going to give revenue guidance for the quarter. What we are seeing as we look at the first half of year is that our higher power solutions that are dominating our sales in terms of both the megawatt shift and in terms of the revenue, that was true in the first half, and I expect that to continue as we look in the second half of the year.

Dale Pfau – Cantor Fitzgerald

You said that your bookings in the first five and a half weeks or so of Q3 were greater than your bookings for all of Q2. Is that correct?

Steve Rhoades

That’s right, and we currently sit at about $16 million in backlog total for the company.

Dale Pfau – Cantor Fitzgerald

Is that currently or is that with backlog at the end of Q2?

Steve Rhoades

That’s the current backlog.

Dale Pfau – Cantor Fitzgerald

What was the backlog at the end of the quarter?

Steve Rhoades

$9.9 million.

Dale Pfau – Cantor Fitzgerald

Could you talk a little about the competitive landscape, any pricing pressure out there Steve?

Steve Rhoades

It’s a tough climate, and there is some pricing pressure. As I said before, we haven’t faced the kind of pressure that the panel manufactures have, but we have seen some aggressive deals done. We’re continuing to develop high value solutions, and as I said we are heading toward a rate where we can generate cash and little bit higher revenue number as we role into 2010, but we seen some decrease in ASP.

Dale Pfau – Cantor Fitzgerald

In the quarter, could you tell us where your shipments were on a geographic basis?

Steve Rhoades

Yes, I can. Inside the quarter, it is a little over 80% in North America and not quite 20% international.

Dale Pfau – Cantor Fitzgerald

On your backlog, is that about the same split or is there is a difference?

 

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