Energy Conversion Devices, Inc. (ENER) Captures Investor Attention Following Earnings Report
Energy Conversion Devices, Inc. (ECD) is a name that has been running across the lips of many investors, largely due to an impressive third quarter, fiscal 2008. The company is known for developing building-integrated rooftop arrays which convert the Sun's energy to electricity using proprietary solar technology. Quarter results caused a 40 percent spike in share value as word of ECD's success spread rapidly throughout the investment community. Consolidated revenues totaled $70 million; 24 percent higher than the previous quarter, and an astonishing 155 percent increase over third quarter fiscal 2007 revenues. Sales of solar products accounted for $64.9 million,…