Valence Reports on Q1 1999

Valence Technology Inc. (Henderson, NV) reported a net loss for the first quarter ended June 27, 1999, of $7.9 million, or $0.30 per share, compared to a net loss of $5.3 million, or $0.21 per share, for the same period a year ago. Sales for the quarter, recorded as a reduction to expense, totaled $233,000 for batteries and lithium-polymer battery materials shipped in partial completion of existing purchase orders.