DALLAS, July 20, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces a stock report featuring Advanced Battery Technologies Inc. (Nasdaq:ABAT). The report briefly notes the company's most recent developments and news, and outlines its financial position, market performance, and comparison against industry peers.
The full report is available at: www.microstockprofit.com/lp/ABAT
Advanced Battery Technologies Inc. (ABAT) engages in the development, manufacture and distribution of rechargeable polymer lithium-ion (PLI) batteries. The Company's products include rechargeable PLI batteries for electric automobiles, motorcycles, mine-use lamps, notebook computers, walkie-talkies and other electronic devices. ABAT's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. Early in 2009, the Company acquired Wuxi Angell Autocycle Co. Ltd., an electric vehicle manufacturer, and renamed it Wuxi Zhongqiang Autocycle Co. Ltd. ABAT maintains its executive offices and manufacturing facilities in China.
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In the report, the analyst notes:
"ABAT gained 11.02% to close Tuesday at $1.31, continuing gains of the previous four days. It has a 52-week range of $0.79 – $4.35. More than 5.34 million shares have traded hands during the session, versus the 10-day average volume of 2.07 million."
"ABAT reported revenue of $28.64 million for the three months ended March 31, 2011, an increase of $9.09 million, or 46.5%, compared to $19.55 million for the three months ended March 31 2010. The Company attributed the increase to the contribution of revenues from electric vehicles manufactured by Wuxi ZQ, batteries manufactured in the new Shenzhen facilities, and batteries manufactured in Harbin."
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