42.0% Reduction in Net Loss for the Quarter
Toronto, Ontario
Electrovaya Inc. (TSX: EFL) today announced financial results for the thirdquarter ended June 30, 2005. All figures are in US dollars.HighlightsFor the quarter ending June 30, 2005:ßRevenue decreased by 29.7% to $1.1 million from $1.6 million for the quarter ended June 30, 2004.ßLoss from operation, before interest, taxes, foreign exchange and amortization decreased by 52.5% or $0.8 million from a loss of ($1.6million) to ($0.8 million)compared to the same quarter in fiscal 2004. ßCash & investments were $10.8 million as at June 30, 2005, compared to $12.5 million as at March 31, 2005 and $13.6 million as at September 30, 2004.
About Electrovaya Inc.
Electrovaya (TSX:EFL) is a world leader in the field of portable power solutions with its award-winning, patented Lithium Ion SuperPolymer(R) battery technology. Its goal is to become the leading provider of tablet PCs, the premier supplier of portable power for aerospace and wireless sectors, and the principal technology champion in the development of alternative energy applications including UPS, stand-by power and zero-emission vehicles. For more information on Electrovaya and its products, please visit www.electrovaya.com The Company’s shares trade on the Toronto Stock Exchange under the symbol EFL.
For more information about the Company and its products, please visit our website at www.electrovaya.com.
For more information, please contact:
P. Hart, Chief Financial Officer
Electrovaya Inc.
tel: 905-855-4636
email: plhart@electrovaya.com