SatCon Technology Corp. (SATC, Financial) filed Quarterly Report for the period ended 2012-03-31.
Satcon Tech Crp has a market cap of $57.9 million; its shares were traded at around $0.36 with and P/S ratio of 0.3. Satcon Tech Crp had an annual average earning growth of 7.8% over the past 10 years.
Deferred Revenue. Deferred revenue was approximately $30.7 million at March 31, 2012 as compared to $31.5 million at December 31, 2011, a decrease of approximately $0.8 million. We record deferred revenue (i) when a customer is invoiced or pays in advance or (ii) when provisions for revenue recognition on items shipped have not been achieved or the items have not yet been received by the customer due to shipping terms such as FOB destination. When an item is deferred for revenue recognition purposes, the deferred revenue is recorded as a liability and the deferred costs are recorded as a component of inventory in our consolidated balance sheets. Deferred revenue also consists of cash received for extended product warranties. Currently deferred revenue is composed of approximately $3.1 million related to pre-payments on orders currently being manufactured and $27.5 million on deferred revenue related to extended warranties sold to customers that purchased our products.
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Satcon Tech Crp has a market cap of $57.9 million; its shares were traded at around $0.36 with and P/S ratio of 0.3. Satcon Tech Crp had an annual average earning growth of 7.8% over the past 10 years.
Highlight of Business Operations:
Gross Margin. Gross margin decreased from 24% in 2011 to 0.5% in 2012. The decline in gross margin was primarily due to the continued reduction in market pricing, lower overall revenue, the mix of products sold as compared to 2011. This decrease is partially offset by our continued material cost reduction programs, and the continued transfer of a significant portion of our inverter manufacturing to our contract manufacturers in the United States and China.Deferred Revenue. Deferred revenue was approximately $30.7 million at March 31, 2012 as compared to $31.5 million at December 31, 2011, a decrease of approximately $0.8 million. We record deferred revenue (i) when a customer is invoiced or pays in advance or (ii) when provisions for revenue recognition on items shipped have not been achieved or the items have not yet been received by the customer due to shipping terms such as FOB destination. When an item is deferred for revenue recognition purposes, the deferred revenue is recorded as a liability and the deferred costs are recorded as a component of inventory in our consolidated balance sheets. Deferred revenue also consists of cash received for extended product warranties. Currently deferred revenue is composed of approximately $3.1 million related to pre-payments on orders currently being manufactured and $27.5 million on deferred revenue related to extended warranties sold to customers that purchased our products.
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