Zoltek, headquartered in Missouri, USA, reports a net loss of $0.9 million in the third quarter of fiscal 2013, compared to net income of $5.6 million in fiscal 2012’s third quarter.
For the nine months ended 30 June 2013, Zoltek’s net sales were $99.5 million, down 30% on the first nine months of fiscal 2012.
Net income for the recent nine months was $5.4 million, compared to $18.6 million in the first three quarters of fiscal 2012.
“The cyclical downturn in the wind energy market that began in the fourth quarter of fiscal 2012, continued to negatively affect our sales and operating results in the third quarter," says Zsolt Rumy, Zoltek’s Chairman and CEO.
"However, in recent weeks we have seen a number of signs that demand in our sector of the wind energy market – supplying carbon fibres used in the manufacture of the biggest and most advanced wind turbines – is picking up again and will show renewed strength through at least the end of calendar year 2013.”
“Meanwhile, we continue to invest and make solid progress in our long-term efforts to develop new applications for our low-cost, high-performance carbon fibres in other fields – with automotive leading the list," he reports.
"We are working closely with auto companies, their top-tier suppliers, and composite equipment companies in dozens of trials and demonstration projects.”
See: Zoltek's Panex 35 carbon fibre meets automotive industry needs – Frost & Sullivan.