Energy Conversion Devices, Inc. (NASDAQ:ENER) has begun a restructuring plan which will help the company to align operating expenses with near term revenue expectations. The plan will also help the company to leverage future growth opportunities more efficiently.
Penny Stock Professor, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Penny Stock Picks.
The restructuring will include workforce reductions and the previously announced restructuring related to the company's acquisition of Solar Integrated Technologies, Inc. The company's workforce will be reduced by about 400, which represents approximately 20% of ECD's combined workforce. The actions should save the company about $17 million annually.
About Energy Conversion Devices
Energy Conversion Devices is a leader in building integrated and rooftop photovoltaics. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD's UNI-SOLAR® brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world efficiency.
Follow us on Twitter: http://www.twitter.com/pennystockspro
Sign up for the free Penny Stock Professor newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Us
Penny Stock Professor is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
