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Just as your pulse is checked during a routine physical, free cash flow is used as an indicator of a company's health. It equals the cash brought in from operations minus the money needed to pay the bills. Think about leftover money in your checking account after you pay this month's bills.
Investors and analysts see this leftover money as a gauge of a company's ability to perform. It is available for transactions such as handing out dividends and working on new products.
Some argue free cash flow is wrongly overshadowed by the emphasis often placed on earnings. Earnings numbers can be manipulated and don't always tell the whole story -- and earnings don't mean much if there's nothing left over after a company pays its expenses. Even if you bring in a six-figure salary, but no money left after paying the bills, are you in great financial shape?
You don't have to be Einstein to figure out free cash flow. To calculate the number, subtract the company's expenditures and dividends from its operating cash flow.
If the free cash flow is written in red ink, it doesn't necessarily signal curtains. This is common for young companies looking to grow. It also could be a result of heavy investments, which in the long run could be worth a standing ovation.
Home / Markets / Industries / Technology
Wednesday, July 30, 2008
Day4 Energy's Solar Technology Breakthrough Moves Towards 25% Reduction in Solar Electricity Costs
Comtex
BURNABY, BC, Jul 30, 2008 (Canada NewsWire via COMTEX) ----Next-Generation Day4 Technology Leads to 19% Efficient PV Cells at Lower
Cost
Day4 Energy Inc. (TSX: DFE), a leading manufacturer of high performance, cost-effective solar electric modules, announced today that it has achieved a major breakthrough in its R&D program focused on the design and development of high performance solar cells. After months of intensive research and experimental trials, the company has developed a design and manufacturing process for its Generation II solar cells with efficiency up to 19 percent on mono-crystalline and 18 percent on multi-crystalline silicon materials. The new design constitutes a significant improvement not only in maximum efficiency but also in low cost manufacturing and lower commercialization risk.
The application of the Generation II photovoltaic (PV) cell technology for multi-crystalline products is particularly important because of the material's lower price point and the company's secured cell supply. The Generation II technology was designed to be fully compatible with Day4 Energy's existing manufacturing equipment, enabling rapid deployment and scale-up. The technology further leverages existing solar cell manufacturing infrastructure as well as certain processing techniques widely deployed in other industries. The company expects that a combination of the technology and manufacturing process will reduce production costs by up to 25 percent of what is currently possible with conventional technology.
"Our first generation 14.7 percent efficiency Day4 MC module, which has been in commercial production since 2006, already places us among the industry's highest performing multi-crystalline products," said Professor Leonid Rubin, chief technology officer of Day4 Energy. "With the second generation of our proprietary solar cell designs we are taking a major step towards making solar energy cost competitive with conventional sources of electrical power generation."
"I am truly proud of our research team. A combination of high performance technology with low cost and manufacturing scalability represents a very significant achievement in reducing the kilowatt-hour costs of solar electricity" adds Dr. John MacDonald, chairman and CEO of Day4 Energy. "Performance at this level using less costly multi-crystalline material cannot be achieved without employing the Day4 Electrode technology."
Day4 Energy expects to fast track commercial scale-up of its high performance PV cell technology over the next 18 months and is currently in discussions with a number of partners in respect to this process. The company has also recently filed a patent application in connection with this invention.
About Day4 Energy:
Headquartered near Vancouver, British Columbia, Day4 Energy Inc. (TSX: DFE) designs, manufactures and sells photovoltaic (PV) modules based on its patented Day4 Electrode technology, a proprietary method of contacting and interconnecting solar cells that produces PV panels of high power density, increased lifetime and uncompromised aesthetic appearance. Day4 Energy partners with the industry's leading PV cell producers to deliver IEC- and UL-certified commercial and residential solar products to customers throughout Europe, North America and Asia. www.day4energy.com
SOURCE: Day4 Energy Inc.
Press Contact: Rosalind Jackson, Antenna Group, (for Day4 Energy) (415) 977-1923, rosalind@antennagroup.com; Investor Contact: Cory Pala, (416) 657-2400, CPala@Day4Energy.com
Copyright (C) 2008 CNW Group. All rights reserved.
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