. ARISE Technologies Reports 2008 Second-Quarter Results 17:43 EDT Monday, August 11, 2008 http://tsedb.globeinvestor.com/servlet/...;archive=cnw&slug=C3335 WATERLOO, ON, Aug. 11 /CNW/ ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T), which is dedicated to becoming a leader in high-performance, cost-effective solar technology, today reported its financial results for the 2008 second quarter and first half ended June 30, 2008. Financial results conform to Canadian generally accepted accounting principles (GAAP) and all currency amounts are in Canadian dollars. "Among a great many highlights during the 2008 second quarter and in the weeks since, several particularly stand out," said Bart Tichelman, President and Chief Executive Officer. "Foremost among our accomplishments was the opening of our PV (photovoltaic) cell manufacturing plant in Bischofswerda, Germany, the start-up of manufacturing, and the shipment of the first cells to our customers. In mid-July, the plant achieved on Line 1 the target level of 15 percent average efficiency for its PV cells (peak reached 15.7 percent), as well as our targets for manufacturing yield and throughput, and moved to 24/7 production to meet the demand of our customers. "Our second-quarter results include our first sales of PV cells, amounting to $460,676. We expect this volume to increase dramatically in the second half of the year. Our current view is that second-half 2008 shipments of PV cells will total between 14 and 16 megawatts, amounting to $42-48 million of revenues, approximately a third of which will be in the third quarter. In addition, we expect Systems Division revenue to amount to $500,000 to $600,000 in the second half," Mr. Tichelman said. Y M .
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