I purchased shares in Altair Nanomaterials (ALTI) this morning for both my personal portfolio and also the mutual fund. ALTI is a holding company that specializes in nanomaterials and also contains a life sciences division. The materials company has research in high performance batteries, fuel cells, and photovoltaics. Altair announced earnings today and the stock is up on the morning trading.
Revenue Increases 68 Percent for Third Quarter and 230 Percent for Nine-Month Period
“An increase in revenue of 230 percent for the first three quarters of 2005 is representative of the significant progress Altair has made over the last nine months,” said Altair Nanotechnologies Chief Executive Officer and President Alan J. Gotcher, Ph.D. “We are experiencing solid business development progress and opportunities in both our Performance Material and Life Sciences divisions in several target markets. We expect these opportunities to mature and to produce recurring and sustainable revenues.” [ more ]
Today they reported a net loss of $0.04 which is compared to a net loss of $0.03 for the comparable quarter. The increase in this loss is attributed to an increase in investments for new contract R&D projects. The company has been performing well and the number of these new R&D contracts has been increasing.
- Congress to Fund $2.5 Million in Energy and Water Development Appropriations for Altair Nanotechnologies’ Nanoscience Research
- Altair Nanotechnologies, University of Nevada Research Foundation and Alternative Energy Consortium Receive $2.5 Million Grant From U.S. Department of Energy
I started a 1/3 position in ALTI today with an average purchase price of $2.54. DISCLAIMER: I am not a registered investment advisor. The information and trades that I provide here are for informational purposes only and are not a solicitation to buy or sell any of these securities. Investing involves substantial risk and you should evaluate your own risk levels before you make any investment. Past results are not an indication of future performance. Please take the time to read the full disclaimer here.