Maxwell Technologies Inc., an electronics maker specializing in ultracapacitors, reported net income of $1.6 million on revenue of $42.5 million for the fourth quarter of 2011. In the same quarter of 2010, Maxwell reported a net loss of $2.4 million on revenue of $34.2 million.
For all of 2011, Maxwell reported net income of $849,000 on revenue of $157.3 million, compared with a net loss of $6.1 million on revenue of $121.9 million in 2010.
In other news, Maxwell said it planned to issue $30 million of stock through Citadel LLC of New York. Maxwell said it planned to use the proceeds as working capital, and to help grow its business.
Shares of Maxwell trade on the Nasdaq under the ticker symbol MXWL.
— Brad Graves