Satcon Expects Q1 Revenue of $61-63M

Satcon Technology Corporation SATC today announced preliminary unaudited results for revenue and gross margin for its first quarter ended March 31, 2011. Based on preliminary financial data and subject to the final closing of the Company's books, Satcon expects first-quarter 2011 revenue will be between $61 million and $63 million. The Company's expected Q1 2011 revenue performance is a four-fold increase over revenue in Q1 2010 of $14.7 million, but is less than previously announced expectations in the range of $65 million to $70 million. The Company attributed the lower-than-expected revenue to the requests from a few of its customers to delay the delivery of inverter systems initially targeted for March to later in the year.