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Toronto, Ontario –Electrovaya Inc. (TSX: EFL) today announced financial results for the fourth quarter and fiscal year ended September 30, 2002. All figures are in thousands of US dollars.
Fourth Quarter Highlights
.Fourth quarter revenue for fiscal 2002 up 73% from fiscal 2001
.Loss of $0.03 per share for the quarter, down from $0.04 in Q4 2001
.Signed development agreement with Microsoft for tablet PC, SCRIBBLER
About Electrovaya Inc.
Electrovaya develops, manufactures and sells products using its proprietary lithium-ion SuperPolymer™ rechargeable battery technology, which delivers the highest energy density of any battery technology on the market today. The Company’s goal is to become the leading provider of portable power for the notebook computer and wireless sectors, and to apply its technology to a broad spectrum of alternative energy applications over the long term. Electrovaya’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:
Paul J. Van Damme
Vice-President, Finance & CFO
Electrovaya Inc.
tel: 905-855-4636
email: pvandamme@electrovaya.com