Electrovaya Inc. (TSX:EFL) today announced financial results for the second quarter ended March 31, 2004. All figures are in US dollars.

Second Quarter Highlights

- Second quarter revenue for 2004 was up 17% from the second quarter of fiscal 2003.

- Gross profit of $139,000 or 9% of revenue, compared to $7,000 or 0.5% for the same quarter in the prior year.

- Excluding the impacts of government assistance and foreign exchange gains and losses, the cash burn rate was $1.1 million, down $1.5 million from $2.6 million in the second quarter of fiscal 2003. Overall cash burn was $1.3 million compared to $1.1 million in the same quarter in Fiscal 2003.

- Scribbler 2000 series receives positive reviews from a variety of technology publications, including PC World, Laptop and Mobile PC magazines, as well as from on-line publications such as Medical Tablet PC.com, Geek.com and CNET.com.

Link: Full Press Release

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