New York, NY - May 24, 2012 (Investorideas.com renewable energy/green newswire) - Investorideas.com, a leader in renewable energy stock research for independent investors, issues an investor alert for A123 Systems, Inc. (NasdaqGS: AONE) trading up at $1.00, up 0.0699(7.52%) 1:03PM EDT with a morning high of $1.03 on volume of just over 1.3 Million shares.
Earlier this month the company reported its first quarter results .
According to the Company, "Our first quarter results were consistent
with our revised expectations as reported last week. Revenue for the
first quarter was impacted by our campaign to replace prismatic products
in the field that may be defective and the temporary shutdown of our
facility in Livonia, Mich," stated David Vieau, CEO of A123 Systems.
"Since announcing the field campaign, we believe we have identified and
corrected the root cause of the defective cells. We are gradually
restarting production in a controlled manner consistent with our
commitment to improve our manufacturing processes and quality, and have
started shipping replacement products to impacted customers. Our
customers have been generally supportive during this process, and we
continue to work with them during this challenging period."
A123 Systems, Inc. (Nasdaq:AONE) is a leading developer and manufacturer of advanced lithium-ion batteries and energy storage systems for transportation, electric grid and commercial applications. The company's proprietary Nanophosphate(R) technology
is built on novel nanoscale materials initially developed at the
Massachusetts Institute of Technology and is designed to deliver high
power and energy density, increased safety and extended life. A123
leverages breakthrough technology, high-quality manufacturing and expert
systems integration capabilities to deliver innovative solutions that enable customers to bring next-generation products to market. For additional information please visit www.a123systems.com.
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