DALLAS, Oct. 1, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Beacon Power Corp. (Nasdaq:BCON). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Beacon Power Corp. (BCON) is a development stage company. The Company along with its subsidiaries, designs, manufactures and operates flywheel-based energy storage systems. The focus of its research and development has been to establish flywheel-based energy storage technologies that can provide energy solutions for the worldwide electricity grid.
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In the report, the analyst notes:
"For the second quarter of 2010, BCON reported revenue of $166,000 and a net loss of $5.6 million, or ($0.03) per share, compared to revenue of $282,000 and a net loss of $4.8 million, or ($0.04) per share, in the second quarter of 2009. Gross profit for the second quarter of 2010 was $93,000, as compared to a gross loss of $4,000 during the second quarter of 2009.
"BCON recently announced it has signed a contract with the U.S. Department of Energy's Advanced Research Projects Agency -- Energy (ARPA-E) calling for BCON to develop critical components of a highly advanced "flying ring" flywheel energy storage system over a two-year period, beginning immediately. The contract is valued at $2.8 million. ARPA-E grant recipients share a portion of the program cost, and BCON would contribute $560,000, or 20% of the $2.8 million program total."
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