Southwall Technologies, Inc., maker of energy-saving films and glass products, added to its string of increased sales and earnings reports today, with its announcement of third quarter 2008 results. Revenue for the quarter was $10.6 million, up 15% over third quarter 2007 figures. In addition, revenues were up a full 20% for the first nine months of 2008 over the same period last year. Third quarter net income increased to $0.9 million, compared to $0.1 million last year. And third quarter gross profit was $4.2 million, or 40% of sales, compared to $3.2 million, or 34% of sales, for third quarter 2007.
According to the company, the year-over-year increase was primarily due to higher sales of their energy efficient solar control film and glass products, across all major markets, including automotive and building products.
Southwall’s President and CEO, Dennis Capovilla, commented on the increased demand for the company’s products. “We are pleased with the results to date and feel that solid demand for our high performance energy products reflects an increasing and long-term global need for higher energy efficiency in green building and automotive design.”
Based in Palo Alto, California, with world-class production operations in Germany, Southwall Technologies is well known for its innovative development of high performance glass and film products that improve the energy efficiency of architectural and automotive glass, and has achieved ISO 9001:2000 certification for the quality of their manufacturing. The company serves customers in 25 countries around the world, including Audi, BMW, DaimlerChrysler, Philips, and Volvo.
Besides insulating glass and film products, Southwall also produces advanced reflective films for electronic display products, as well as conductivity film and photovoltaic products. Southwall is recognized by sustainable design organizations worldwide, including the U.S. Green Building Council, and is a founding member of the Efficient Windows Collaborative (EWC), sponsored by the US Department of Energy.
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