Last $1.19 USD
Change Today -0.01 / -0.83%
Volume 3.2K
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As of 10:54 AM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

mechanical technology inc (MKTY) Snapshot

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52 Week High
03/21/14 - $1.83
52 Week Low
07/17/13 - $0.52
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mechanical technology inc (MKTY) Details

Mechanical Technology, Incorporated, through its subsidiaries, provides precision linear displacement solutions, vibration measurement and system balancing solutions, and wafer inspection tools. Its products include electronic gauging instruments for position, displacement, and vibration application in the industrial manufacturing/production markets, as well as the research, design, and process development market; metrology tools for wafer characterization of semiconductor and solar wafers; tensile stage systems for materials testing and precision linear displacement gauges; and engine balancing and vibration analysis systems for military and commercial aircraft. The company serves electronics, aircraft, aerospace, automotive, semiconductor, and research industries. Mechanical Technology, Incorporated markets its precision automated manufacturing, and industrial and academic research and development sector products through direct sales and representatives in the Americas; and through distributors and agents in Europe and Asia, as well as axial turbo machinery directly to end users. Mechanical Technology, Incorporated was founded in 1961 and is headquartered in Albany, New York.

31 Employees
Last Reported Date: 03/6/14
Founded in 1961

mechanical technology inc (MKTY) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $163.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $151.9K
Compensation as of Fiscal Year 2013.

mechanical technology inc (MKTY) Key Developments

Mechanical Technology, Incorporated Reports Earnings Results for the First Quarter Ended March 31, 2014

Mechanical Technology, Incorporated reported earnings results for the first quarter ended March 31, 2014. Product revenue in MTI Instruments for the three months ended March 31, 2014 decreased by $819,000 to $1.4 million from $2.2 million during the three months ended March 31, 2013. This decrease in product revenue was attributable to the lack of sales of accessory kits sales to the U.S. Air Force under an existing contract, no semi-automated wafer metrology tool sales and a decline in commercial aviation balancing system activity. Net loss for the three months ended March 31, 2014 was $432,000 or $0.08 per share on a fully diluted basis compared to net income of $86,000 or $0.02 per share on a fully diluted basis during the comparable 2013 period. This decrease in net income was primarily attributable to the decrease in product revenue.

Mechanical Technology, Incorporated, Annual General Meeting, Jun 11, 2014

Mechanical Technology, Incorporated, Annual General Meeting, Jun 11, 2014., at 10:00 Eastern Daylight. Location: 325 Washington Avenue Extension. Agenda: To consider undersigned hereby appoints Mr. Kevin Lynch and Mr. Rick Jones, or either of them, as proxies to vote all the stock of the undersigned with all the powers; and to consider any adjournment thereof.

Mechanical Technology, Incorporated Announces Consolidated Earnings Results for the Year Ended December 31, 2013

Mechanical Technology, Incorporated announced consolidated earnings results for the year ended December 31, 2013. For the year, the company's product revenue in MTI Instruments increased by $2.5 million, or 41.6%, to $8.4 million from $5.9 million in 2012. This increase was primarily attributable to a 57.2% increase in shipments of military and commercial aviation balancing systems and accessory kits. Net income was $3.7 million or $0.69 per share on a fully diluted basis compared to a net loss of $2.1 million or $0.40 per share on a fully diluted basis for the same period in 2012. The $5.7 million increase in net income is primarily attributable to the $3.6 million gain on VIE deconsolidation and an improvement in MTI Instruments net income in 2013 of $2.3 million. The company achieved $0.361 million in operating income during 2013, a $2.6 million improvement over the prior year.


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